In the second of the three ranges of production:Question 22Select one:a.the total product curve has an increasing slope.b.the marginal product curve has a negative slope.c.the marginal product curve intersects the total product curve.d.marginal product is negative.

The second of the three ranges of production is characterized by _______ marginal returns.Question 23Select one:a.increasingb.constantc.diminishingd.negative

Multiple Choice QuestionThe resource demand curve of a purely competitive seller is downward sloping because the marginal product of the resource Blank______, whereas the resource demand curve of an imperfectly competitive sellers is downward sloping because the marginal product diminishes and Blank______.Multiple choice question.diminishes; product price falls as output is increasedincreases; product price rises as output is increaseddiminishes; product price falls as output is decreasedincreases; product price rises as output is decreased

If a monopoly faces a demand curve that is downward-sloping, then marginal revenue will be which of the following?Group of answer choicesMust be less than priceMust be equal to priceMust be greater than priceIs not related to the price

Question 4 (1 point)In the short run, a decrease in production costs of a product will shift aboth the demand curve and the supply curve to the right bthe demand curve to the left and the supply curve to the right conly the supply curve to the right donly the supply curve to the left eonly the demand curve to the left

2. Imperfectly competitive firms have a demand curve that ________ and a marginal revenuecurve that ________ and is ________ the demand curve.A) is horizontal; is horizontal; the same asB) is horizontal; slopes downward; belowC) slopes downward; slopes downward; belowD) slopes downward; is horizontal; aboveE) slopes downward; slopes downward; the same as