Which of the following is an example of the law of diminishing marginal returns? a. holding capital constant, when the amount of labor increases from 5 to 6, output increases from 20 to 25. then when labor increases from 6 to 7, output increases from 25 to 28. b. when labor increases by 20 percent and capital decreases by 15 percent, output remains constant. c. when capital and labor both increase by 20 percent, output increases by only 15 percent.

Aprice ceiling is “binding” if the price ceiling is set below the equilibrium price. suppose that the equilibrium price is $5. if a price ceiling is set at $6, this will not affect the market in any way since $5 remains a legally allowable price (since $5 < $6). a price ceiling of $6 is called a “non-binding” price ceiling. on the other hand, if the price ceiling is set at $4, the price ceiling is “binding” because the natural equilibrium price is $5 but that is no longer allowed. what happens when there is a binding price ceiling? at a price below the equilibrium price, quantity demanded exceeds quantity supplied. there is a shortage. normally, price increases eliminate shortages by increasing quantity supplied and decreasing quantity demanded. in this case, however, price increases are not allowed past the price ceiling. we therefore predict that the observed market price will be right at the price ceiling and there will be a permanent shortage. the observed quantity bought and sold will be dictated by the quantity supplied at the price ceiling. although consumers would like to buy more, there are no more units for sale

Most states have licensing registration requirements for child care centers and family daycare homes. these usually include minimum standard for operation. which of the following would you most likely find required in a statement of state licensing standards for child care centers?

Acar manufacturer uses new machines that automatically assemble an engine from parts fed to the system. the machine can regulate the speed ofassembly depending on the number of parts produced. which type of technology does this machine use? angenoem mense wat ons in matin en esta va ser elthe machine uses