When the Marginal Product of an Input Declines as the Quantity

question 90

Multiple Choice

When the marginal product of an input declines as the quantity of that input increases,the production function exhibits

• A)increasing returns to scale.
• B)decreasing returns to scale.
• C)diminishing total product.
• D)diminishing marginal product.

---

Definitions:

Personal Investment

The allocation of personal resources, such as time, money, or effort, towards a specific goal or endeavor.

Rewarding People

The act of providing recognition or compensation to individuals for their contributions, accomplishments, or desired behaviors.

Management Principle

A fundamental truth or guideline that forms the basis for management practices and decision-making in organizations.

Ethical Problem

A situation that requires a person or organization to choose between alternatives that must be evaluated as right (ethical) or wrong (unethical).