If a firm experiences diminishing marginal product,its marginal cost ________ at a(n)________ rate.

Question

Quizplus · Accepted Answer

Diminishing marginal product means that each additional unit of input produces less output than the previous unit. As a result, the cost of producing each additional unit increases, leading to an increase in marginal cost. The rate of increase in marginal cost will also be increasing because the marginal product is decreasing at an increasing rate.

If a Firm Experiences Diminishing Marginal Product,its Marginal Cost ________