Exhibit 22-1

-Refer to Exhibit 22-1.Diminishing marginal returns set in with the addition of which unit of the variable input?

Question

Exhibit 22-1
 
-Refer to Exhibit 22-1.Diminishing marginal returns set in with the addition of which unit of the variable input?

Quizplus · Accepted Answer

Diminishing marginal returns occur when each additional unit of input contributes less to output than the previous unit. This typically starts after the point where the marginal product of the input begins to decrease, which is often observed with the third unit in many production scenarios.

Exhibit 22-1 -Refer to Exhibit 22-1.Diminishing Marginal Returns Set in with the Set