According to the Law of Diminishing Returns, as additional units of a variable factor are added to a fixed factor, beyond some point:
A) total product decreases.
B) fewer additional units of the variable factor are needed to increase output.
C) the additional product from each additional unit of the variable factor decreases.
D) none of the above.
Correct Answer:
Verified
Q100: If a firm's average total cost and
Q101: Typically, as the level of output increases
Q102: Which of the following statements is true?
A)
Q103: Short-run costs behave as they do because
Q104: The Law of Diminishing Returns states that
Q106: The Law of Diminishing Returns governs production:
A)
Q107: The fundamental factor causing short-run marginal cost
Q108: The Law of Diminishing Returns causes an
Q109: The Law of Diminishing Returns is an
Q110: Which of the following is correct?
A) The
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