Exhibit 21-1

-Refer to Exhibit 21-1. Diminishing marginal returns set in with the addition of which unit of the variable input?

Name: Exhibit 21-1 -Refer to Exhibit 21-1. Diminishing marginal returns set in with the addition of which unit of the variable input?
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Question

Exhibit 21-1
 
-Refer to Exhibit 21-1. 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 results in a smaller increase in output. The third unit is where this begins, as the marginal increase in output starts to decline.

Exhibit 21-1 -Refer to Exhibit 21-1. Diminishing Marginal Returns Set in with Returns