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Question Completion Status: QUESTION 16 Which of the following describes the breakeven point a. total revenue = explicit costs b. total revenue = marginal costs c. total revenue = average total costs d. total revenue= total fixed costs plus total variable costs QUESTION 17 Which of the following best describes the law of diminishing returns: a. a firm will incur an increase its variable costs when it hires a new employee b. a firm will realize a decline in output when it hires a new employee c. a firm will realize a smaller increase in output when it hires a new employee d. a firm will increase its total costs when it hires a new employee

          Question Completion Status:
QUESTION 16
Which of the following describes the breakeven point
a. total revenue = explicit costs
b. total revenue = marginal costs
c. total revenue = average total costs
d. total revenue= total fixed costs plus total variable costs
QUESTION 17
Which of the following best describes the law of diminishing returns:
a. a firm will incur an increase its variable costs when it hires a new employee
b. a firm will realize a decline in output when it hires a new employee
c. a firm will realize a smaller increase in output when it hires a new employee
d. a firm will increase its total costs when it hires a new employee

Question Completion Status:
QUESTION 16
Which of the following describes the breakeven point
a. total revenue = explicit costs
b. total revenue = marginal costs
c. total revenue = average total costs
d. total revenue= total fixed costs plus total variable costs
QUESTION 17
Which of the following best describes the law of diminishing returns:
a. a firm will incur an increase its variable costs when it hires a new employee
b. a firm will realize a decline in output when it hires a new employee
c. a firm will realize a smaller increase in output when it hires a new employee
d. a firm will increase its total costs when it hires a new employee

Added by Theresa L.

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