Asked by
Aaron Johnson
on Oct 12, 2024Verified
The law of diminishing returns predicts that
A) total output will fall.
B) marginal output will fall.
C) total output will rise.
D) marginal output will rise.
Law Of Diminishing Returns
An economic principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if all other variables remain at a constant.
Marginal Output
The additional quantity of a product that is produced from using one more unit of an input, keeping other inputs constant.
- Gain insight into the theory and impact of the law of diminishing returns in various fields.
Verified Answer
KB
Learning Objectives
- Gain insight into the theory and impact of the law of diminishing returns in various fields.