Asked by
Emily Prichard
on Oct 12, 2024
Verified
The law of diminishing returns states that as output rises,eventually _____ output will decline.
A) total
B) average
C) fixed
D) marginal
Marginal Output
The additional output that can be produced by adding one more unit of a particular input, while holding all other inputs constant.
- Gain an understanding of the diminishing returns law and its effects on production and cost management.
Verified Answer
HS
Learning Objectives
- Gain an understanding of the diminishing returns law and its effects on production and cost management.