Once a Firm Incurs Diminishing Marginal Returns,total Product Will Begin

question 70

True/False

Once a firm incurs diminishing marginal returns,total product will begin to decline as more of the variable input is employed.

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Definitions:

Knowledge Acquisition

The process by which individuals or organizations gather or learn new information, skills, or techniques, often for problem-solving or decision-making purposes.

Learning Organizations

Companies that facilitate the learning of their members and continuously transform themselves to be more adaptable to changes.

Profitability

The degree to which a business or activity yields profit or financial gain.

Learning Organization

An organization that has systems and processes for creating, acquiring, and transferring knowledge to modify and change its behavior to reflect new knowledge and insights.