According to the law of diminishing returns, when some factors of production are fixed, in order to increase production by a given amount, a firm will eventually need to add successively:
A)smaller and smaller quantities of the variable factors of production.
B)constant quantities of the variable factors of production.
C)larger and larger quantities of the variable factors of production.
D)larger and larger quantities of the fixed factor of production.

Question

Quizplus · Accepted Answer

The law of diminishing returns notes that it takes larger and larger increases in the variable inputs to increase output by the same amount.

According to the Law of Diminishing Returns, When Some Factors