Refer to Figure 18-1. The shape of the curve suggests the presence of

A) an inverted production function.
B) diminishing total product.
C) increasing marginal product.
D) diminishing marginal product.

Diminishing Marginal Product

The principle where the incremental output of a production process decreases as the amount of a single factor of production is incrementally increased, holding all other factors constant.

Inverted Production Function

A concept where inputs and outputs in a production process are reversed in analysis, possibly examining the relationship of output levels to required inputs.

Total Product

The overall quantity of output that a firm produces, usually within a given period of time.