Diminishing marginal product first sets in at the minimum point of the
A) ATC curve.
B) AVC curve.
C) AFC curve.
D) MC curve.

Name: Diminishing marginal product first sets in at the minimum point of the A) ATC curve. B) AVC curve. C) AFC curve. D) MC curve.
Brand: Quizplus
Rating: 4.8 (43 reviews)

Question

Quizplus · Accepted Answer

Diminishing marginal product first sets in at the minimum point of the MC curve because it reflects the point where additional units of input start to produce less additional output, causing marginal cost to rise.

Diminishing Marginal Product First Sets in at the Minimum Point