10. The law of diminishing marginal product to capital means that as we add additional units of capital: (A) and labor, output will increase but at an increasing rate (B) and labor, output will increase but at a decreasing rate (C) but hold labor constant, output will decrease but at an increasing rate (D) but hold labor constant, output will increase but at a decreasing rate

1. When the local used bookstore prices economics books at $20.00 each, they generally sell 70 per month. If they lower the price to $8.00 each, they sell 90. Hence, the elasticity of demand for these economics books is (A) 3.43, so this store should lower price to raise total revenue. (B) 3.43, so this store should raise price to raise total revenue. (C) 0.29, so this store should lower price to raise total revenue. (D) 0.29, so this store should raise price to raise total revenue.

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