The Law of Diminishing Returns States That ________

question 119

Multiple Choice

The Law of Diminishing Returns states that ________.

• A) successive increases in inputs eventually lead to less additional output when one of the inputs is fixed
• B) successive increases in product prices lead to a fall in revenue
• C) the demand for a good decreases as the price of the good increases, all other things remaining constant
• D) the net benefits of a perfectly competitive firm decrease as more firms enter the market

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Definitions:

Fixed-Ratio

A schedule of reinforcement where a response is reinforced only after a specified number of responses, in behavioral psychology.

Schedule of Reinforcement

A strategy in operant conditioning that outlines how and when responses will be followed by reinforcement to encourage certain behaviors.

Frequent Flyer

An individual who travels by air frequently, often benefiting from loyalty programs offered by airlines.

Conditioned Reinforcer

A stimulus that acquires the power to encourage behavior because it is associated with a primary reinforcer.