Question
The law of diminishing returns implies that: a. a given percentage increase in all inputs leads to that same percentage increase in output. b. the
The law of diminishing returns implies that:
a. a given percentage increase in all inputs leads to that same percentage increase in output.
b. the proportional increase in output is larger than the underlying proportional increase in inputs.
c. output increases at a rate less than the proportionate increase in inputs.
d. none of these.
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Microeconomics
Authors: David Besanko, Ronald Braeutigam
5th edition
1118572270, 978-1118799062, 1118799062, 978-1118572276
