The Law of Diminishing Returns Indicates Why

question 222

Multiple Choice

The law of diminishing returns indicates why

• A) beyond some point, the extra utility derived from additional units of a product will yield the consumer smaller and smaller amounts of additional satisfaction.
• B) the firm's total fixed costs do not change with output in the short run.
• C) a firm's long-run average total cost curve is U-shaped.
• D) a firm's marginal costs will eventually increase as the firm expands output in the short run.

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