Solved

Which of the Following Examples Shows Diminishing Marginal Product

Question 106

Essay

Which of the following examples shows diminishing marginal product?
(i) Kenneth has just opened a new bakery. In the second week, he becomes better organized and is able to produce 25% more cakes.
(ii) Frances hires a second cook in her restaurant, but the kitchen in now crowded, and the cooks are fighting over space.
(iii) Domenic plants double the seeds that he normally plants in his garden, but only half the plants produce vegetables due to overcrowding.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents