Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

When the law of diminishing returns takes effect a. a firm must always try to add the same amount of input to the production process.

When the law of diminishing returns takes effect

a. a firm must always try to add the same amount of input to the production process.

b. more input must be added in order to increase its output.

c. firms must add decreasingly more input if they are to maintain the same extra amount of output.

d. firms must add increasingly more input if they are to maintain the same extra amount of output.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Routledge To Global Political Economy Conversations And Inquiries

Authors: Ernesto Vivares

1st Edition

1351064525, 9781351064521

More Books

Students also viewed these Economics questions