Figure 11-1
-Refer to Figure 11-1.Diminishing marginal returns is illustrated in the per-worker production function in the figure above by a movement

Question

Figure 11-1 
-Refer to Figure 11-1.Diminishing marginal returns is illustrated in the per-worker production function in the figure above by a movement

Quizplus · Accepted Answer

Diminishing marginal returns occur when adding an additional factor of production results in a smaller increase in output. This is shown by moving up along a given production function, where each additional unit of input results in a smaller increase in output.

Figure 11-1 -Refer to Figure 11-1.Diminishing Marginal Returns Is Illustrated in the Illustrated