No Free Lunch: Economics for a Fallen World: Third Edition, Revised

Chapter Seven: Production: Man at Work 173 13. True or False. Marginal cost curves initially fall due to diminishing returns, but ultimately rise due to gains from specialization and the division of labor. 14. What is the equation for profit maximization? If a firm is maximizing profit, what does that suggest about its stewardship of social resources?

RkJQdWJsaXNoZXIy MTM4ODY=