Which of the following refers to a short run phenomenon?
A) economies of scale
B) constant returns to scale
C) diseconomies of scale
D) diminishing returns

Question

Quizplus · Accepted Answer

Diminishing returns refer to a point at which the level of profits or benefits gained is less than the amount of money or energy invested, typically occurring in the short run when at least one factor of production is fixed.

Which of the Following Refers to a Short Run Phenomenon