The law of diminishing marginal returns says that
A) total product will eventually remain constant as more of an input is added to production
B) total revenue decreases as output increases,holding technology fixed
C) marginal product eventually falls as more of an input is employed
D) the quantity demanded of a good decreases as its price rises
E) utility falls as more of a good is consumed
Correct Answer:
Verified
Q17: Total product begins to decline when diminishing
Q18: As a firm increases its output in
Q19: In the short run,
A)at least one of
Q20: Q21: The law of diminishing marginal returns says Q23: The marginal product of labor is the Q24: If a firm is experiencing diminishing marginal Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents![]()
A)total