Table 18-3

-Refer to Table 18-3.The fact that the marginal product falls as the number of workers increases exemplifies a property called

Question

Table 18-3
 
-Refer to Table 18-3.The fact that the marginal product falls as the number of workers increases exemplifies a property called

Quizplus · Accepted Answer

The fact that the marginal product falls as the number of workers increases exemplifies a property called diminishing marginal product. This means that as more units of a variable input, such as labor, are added to a fixed amount of other inputs, the marginal product of the variable input eventually diminishes.

Table 18-3 -Refer to Table 18-3.The Fact That the Marginal Product Falls