Which of the following curves should one look at to observe the law of diminishing marginal returns?
A)the average fixed cost curve
B)the total fixed cost curve
C)the marginal physical product curve
D)the long run average total cost curve

Question

Quizplus · Accepted Answer

The law of diminishing marginal returns is observed in the marginal physical product curve, as it shows how the addition of a variable input to a fixed input eventually leads to a decrease in the marginal output of the product.

Which of the Following Curves Should One Look at to Observe