The decreasing slope of a production function reflects

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Quizplus · Accepted Answer

The decreasing slope of a production function reflects diminishing returns, which means that as more and more units of a variable input are added to fixed inputs, the additional output produced by each additional unit of the variable input will eventually decrease. This is because the fixed inputs, such as land or capital, cannot be increased in the short run, so at some point, adding more labor or other variable inputs will result in less and less additional output.

The Decreasing Slope of a Production Function Reflects