In the short run,the law of diminishing returns
A)Occurs for only a few economies.
B)Can be observed in every production process.
C)Does not occur in command economies.
D)Can be overcome by using more variable inputs.

Question

Quizplus · Accepted Answer

The law of diminishing returns is a fundamental concept in economics and is observed in every production process. It states that as more and more units of a variable input are added to a fixed input, the marginal product of the variable input will eventually decline. This is due to factors such as diminishing marginal productivity and the lack of available resources to accommodate further inputs.

In the Short Run,the Law of Diminishing Returns