The Best Estimate of Where Diminishing Marginal Returns Begin Is

question 48

Short Answer

The best estimate of where diminishing marginal returns begin is 20 because that is the output level where the total cost curve begins getting steeper, which means the costs are rising faster as output increases.

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Definitions:

Likert-Type Scales

A response scale used in surveys to gather information on a participant's level of agreement or preferences towards a statement.

Human Communication

The process by which individuals share information, ideas, or feelings through verbal or non-verbal means.

Reliability

Reliability in research refers to the consistency or repeatability of a measure or test; a reliable measure produces similar results under consistent conditions.

Measurement

The process of finding out whether people (or media content) have more or less of an attribute we are interested in. It is done by assigning numbers to the phenomena we are interested in.