Table 8.3
-Refer to Table 8.3.If four workers are hired,then

Question

Quizplus · Accepted Answer

Diminishing marginal returns occur when adding an additional input leads to a decrease in the marginal product. In Table 8.3, the marginal product decreases from 6 to 5 when four workers are hired, indicating that diminishing marginal returns have started. The other options are not necessarily true; marginal product can equal five or total product can be maximized at a different level of input.

Table 8.3 -Refer to Table 8.3.If Four Workers Are Hired,then