Table 18-6

-Refer to Table 18-6.The fact that the marginal product falls as the number of workers increases illustrates a property called

Question

Table 18-6
 
-Refer to Table 18-6.The fact that the marginal product falls as the number of workers increases illustrates a property called

Quizplus · Accepted Answer

Diminishing marginal product is the phenomenon where the marginal product of an additional input of labor (or any other factor of production) decreases as the quantity of that factor increases. This is illustrated in the table where the marginal product of labor decreases as more workers are added.

Table 18-6 -Refer to Table 18-6.The Fact That the Marginal Product Falls