5. according to the law of supply,
a. the lower the price, the larger the quantity consumed
b. the higher the price, the larger the quantity produced
c. if the price of good rises, some firms will produce less
d. if the price of a good falls, new firms may enter the market.

6. the change in output from adding one more worker is the?
a. marginal product of labor
b. increasing marginal returns
c. diminishing marginal returns
d. negative marginal returns

5. The answer is B.

6. The answer is A.

Explanation:

5.

The law of supply is the relation between the demand that exists of an object in the market and the quantity of the same that is offered according to the price that is established. This law indicates that, keeping everything else constant (such as production costs or the necessary technology), the quantity offered of a good increases when its price does. This occurs because producers demand at least a certain price to offer a certain amount of goods because the generation of a good or service costs a combination of capital and effort. The more price there is and the more compensation you receive, the greater the amount of product you will be willing to offer.   This means that the higher the price and the greater the quantity of the product or service you are willing to offer, the greater the quantity produced.

6.

Decreasing Marginal Income Law refers to the amount of additional product that is obtained when successively equal additional units of a variable factor are successively added to a fixed amount of one or more factors. This law says that increasing the amount of a productive factor in the production of the good or service causes the production yield to be lower as we increase this factor.  This decrease is marginal because the increase in production is becoming smaller.

The marginal product of labor is part of this law of diminishing marginal returns.

Employing one more worker implies extending the work hours of the team, with that the production logically increases and to the extent that it involves more workers, the production will increase, but more and more slowly or in a smaller proportion, to a point where it will not be possible to increase it further.

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