The Law of Diminishing Marginal Returns Implies That, in the Short

question 218

Multiple Choice

The law of diminishing marginal returns implies that, in the short run:

• A) output must fall beyond a certain point.
• B) price must fall beyond a certain point.
• C) the marginal product of the variable input must eventually decrease.
• D) wages of workers must eventually increase.
• E) total cost must fall beyond a certain point.

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Definitions:

Undesirable Behavior

Actions or conduct that are considered unacceptable or inappropriate within a specific context, often leading to negative consequences.

Extinction

In a behavioral context, extinction is the process of reducing or eliminating a learned response, typically by no longer providing the reinforcement that maintained the behavior.

Behavioral Modeling

The process of learning how to act or behave by observing and imitating the actions of others, often used in organizational training and development.

Self-Reinforcement

The process of rewarding oneself to reinforce desired behavior or achievements.