Question
The law of diminishing marginal returns occurs when a. some factors of production are fixed, causing increased production to require ever larger increases in the
The law of diminishing marginal returns occurs when
a. some factors of production are fixed, causing increased production to require ever larger increases in the variable factor of production.
b.enough time has passed so that all factors of production can be varied.
c. marginal cost is decreasing.
d.firms hire lazy workers.
Step by Step Solution
3.36 Rating (152 Votes )
There are 3 Steps involved in it
Step: 1
Answer Option a a some factors of production are fixed causing increased produc...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get StartedRecommended Textbook for
Exploring Economics
Authors: Robert L Sexton
5th Edition
978-1439040249, 1439040249
Students also viewed these Economics questions
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
View Answer in SolutionInn App