The Law of Diminishing Marginal Returns Explains the General Shape

question 21

Multiple Choice

The law of diminishing marginal returns explains the general shape of the firm's

• A) long-run cost curves.
• B) short-run cost curves.
• C) both short-run and long-run cost curves.
• D) The law of diminishing returns has nothing to do with cost curves.

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Definitions:

Temperament

An individual's inherent personality traits, particularly those relating to their emotional responses and behaviors.

Child-Rearing

The process of raising, educating, and nurturing a child from birth to adulthood.

Effective Signal

A message or indicator that successfully communicates its intended information or commands attention, influencing behavior or perception.

Caregiver

An individual who provides care and assistance to others, especially to people with illnesses, disabilities, or the elderly, often without professional training.