A Firm Will Begin to Experience Diminishing Returns at the Point

question 162

Multiple Choice

A firm will begin to experience diminishing returns at the point where:

• A)marginal cost increases.
• B)marginal cost decreases.
• C)marginal product increases.
• D)both B and C

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Definitions:

Non-profit

A non-profit organization is one that operates for a collective, public or social benefit, rather than to make money for its owners or investors.

Sole Proprietorship

A type of business structure owned and run by one individual where there is no legal distinction between the owner and the business.

Multiple Owners

A business structure where two or more individuals share ownership and responsibilities of managing the business.

Limited Liability Company

A business structure in the United States whereby the owners are not personally liable for the company's debts or liabilities.