The Law of Diminishing Returns

question 158

Multiple Choice

The law of diminishing returns:

• A) applies only in the short run
• B) is true only when all inputs are variable
• C) implies that as we add more workers our output decreases
• D) all of the above

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Definitions:

Self-concept

An individual's perception of themselves, including beliefs about one's appearance, abilities, and personality traits.

Social

Pertaining to society or its organization.

Mastery Orientation

A belief that success stems from trying hard and that failures are influenced by factors that can be controlled, like effort.

Growth Mindset

Viewing one’s skills and characteristics as malleable or changeable.