The law of diminishing returns sets in when marginal physical product is decreasing.
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Q122: The law of diminishing returns applies in
Q123: Firms that have fixed costs do not
Q124: The productive resources used by firms have
Q125: The marginal physical product of labor is
Q126: The marginal physical product of labor declines
Q128: If it takes three workers to produce
Q129: Average physical product is always equal to
Q130: When marginal physical product begins to decline,
Q131: The slope of the production function at
Q132: The steeper the slope of the production
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