Diminishing returns to labor means that
A) the greater the amount of output, the less labor that is needed.
B) as more labor is employed, total output declines.
C) as more labor is employed, each additional worker produces less additional output.
D) as more labor is employed, total output will increase.
E) the greater the amount of output, the less additional labor that is needed.
Correct Answer:
Verified
Q1: The late 1700s and early 1800s represent
Q2: Increases in labor, according to the theory
Q4: Which of the following is true?
A)Economic growth
Q5: The flattening out of the production function
Q6: When capital is included in the production
Q7: Productivity is defined as
A)output per person.
B)output per
Q8: The total amount of capital in the
Q9: The rationale for developing a model in
Q10: As more capital is added per worker,
Q11: Diminishing returns to labor exists
A)in any economy.
B)only
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents