What is the law of diminishing returns?
A) As more of a fixed input is added to a variable input in the production process the resulting increase in output will,at some point,accelerate.
B) As more of a variable input is added to a fixed input in the production process the resulting increase in output will,at some point,accelerate.
C) As more of a variable input is added to a fixed input in the production process the resulting increase in output will,at some point,diminish.
D) As more of a variable input is added to a fixed input in the production process the resulting increase in output will,at some point,become negative.
Correct Answer:
Verified
Q27: If marginal product is declining,which of the
Q28: What term refers to the total output
Q29: Which of the following statements is true
Q30: Below are some production data for Quite
Q31: What is the term for the increase
Q33: Below are some production data for Quite
Q34: What term is used to describe the
Q35: Below are some production data for Quite
Q36: Which of the following statements is true
Q37: What do economists mean by the term
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