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The law of diminishing marginal product refers to: a. the portion of the marginal product curve that slopes downward. b. the case where adding one
The law of diminishing marginal product refers to:
a. | the portion of the marginal product curve that slopes downward. | |
b. | the case where adding one more unit of the variable input will reduce total product. | |
c. | the situation that eventually occurs because each additional unit of the variable input has fewer units of the fixed input with which to work. | |
d. | both a and c. |
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