Diminishing Returns to an Input Occur

question 108

Multiple Choice

Diminishing returns to an input occur:

• A)when all inputs are fixed.
• B)when some inputs are fixed and some are variable.
• C)when all inputs are variable.
• D)only in the long run.

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Definitions:

Sample

A subset of individuals from within a larger population used to approximate characteristics of the whole population.

Poisson Probabilities

The likelihood of a given number of events happening in a fixed interval of time or space, assuming the events occur with a known constant mean rate and independently of the time since the last event.

Poisson Distribution

A probability distribution that expresses the probability of a given number of events occurring in a fixed interval of time or space when these events occur with a known constant rate and independently of the time since the last event.

Expected Frequency

The predicted number of times an event or outcome occurs within a specific interval, based on a probability model.