Diminishing marginal returns refers to a situation where the ________ of an additional worker is less than the ________ of the previous worker.
A)marginal cost;marginal cost
B)average cost;average cost
C)marginal product;marginal product
D)average product;average product
E)marginal product;average product

Question

Quizplus · Accepted Answer

Diminishing marginal returns occur when adding an additional factor of production results in a smaller increase in output than the previous addition, specifically referring to the marginal product of a worker decreasing as more workers are added.

Diminishing Marginal Returns Refers to a Situation Where the ________