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The law of diminishing marginal returns shows the relationship between
inputs and outputs for a firm in the short run.
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The slope of curve 1 first decreases then increases because of the Law of A. Marginal Analysis B. The Slope of Supply C. The Slope of Demand D. Diminishing Marginal Returns
D. Diminishing Marginal Returns
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The law of diminishing marginal returns is caused by
the existence of a fixed input that must be combined with increasing amounts of the variable input
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The law of diminishing marginal returns shows the relationship between: A) inputs and outputs for a firm in the long run. B) accounting and economic profits. C) inputs and outputs for a firm in the short run. D) short run inputs and long run outputs for a firm.
number or workers units of output 0 0 1 40 2 90 3 126 4 150 5 165 6 180 Refer to the above data. Diminishing marginal returns become evident with the addition of the:
law of diminishing marginal returns
as each addition unit is added to fixed supply of other resources, total product will increase to a certain point. Then it will decrease and then become negative
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Diminishing marginal returns to labor-
-The marginal product of labor decreases as as more labor is hired. -> When the marginal product of labor is decreasing, we say that there are ________________. -Apply not just to labor but to any variable input -> In all kinds of production, if we keep increasing the quantity of any one input, while holding the others fixed __________________ will eventually set in.
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The law of diminishing marginal returns is caused by: A) insufficient amounts of the variable input. B) the existence of a fixed input that must be combined with increasing amounts of the variable input. C) poor quality fixed inputs. D) some workers performing poorly on the job.