Diminishing returns refers to:
A) the decrease in total output as equal amounts of a variable input are added to the production process while certain inputs remain unchanged.
B) the decrease in marginal output as equal amounts of a variable input are added to the production process while certain inputs remain unchanged.
C) the increase in marginal output as equal amounts of a variable input are added to the production process while certain inputs remain unchanged.
D) All of the above.
E) None of the above.
Correct Answer:
Verified
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