As additional increments of marginal resources are added to either healthcare or education, the marginal benefit from those additional increments will decline. What do economists call this pattern?
Graph showing the production possibilities frontier, an arc that runs from the vertical to horizontal axes, with tradeoffs between healthcare and education.
Graph showing the production possibilities frontier, an arc that runs from the vertical to horizontal axes, demonstrating tradeoffs that exist between healthcare and education. If on the production possibilities frontier, all resources are maximized.
Select the correct answer below:
law of supply
anti
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dumping law
law of diminishing returns
law of demand