Question

a supply schedule is a table that shows the quantity supplied of a product at one price. true false question 2 1 pts the law of (select) says that the more you do something, the harder it is to keep doing it. therefore, the returns for doing it diminish. question 3 1 pts when moving up along an existing supply curve, all variables other than price are decreasing. increasing. held constant. fluctuating.

Explanation:

Question 1

A supply schedule shows the quantity supplied of a product at various prices, not just one price. So the statement is false.

The law of diminishing returns states that as more of a variable input is used with fixed inputs, the marginal product (return) of the variable input diminishes. This matches the description "the more you do something, the harder it is to keep doing it. Therefore, the returns for doing it diminish."

When moving along a supply curve, the ceteris paribus (all other things equal) assumption holds. This means all variables other than the price of the good (like input costs, technology, number of sellers) are held constant.

Answer:

False

Question 2