According to the Law of Diminishing Returns, an Additional Unit

question 192

Multiple Choice

According to the law of diminishing returns, an additional unit of

• A) capital produces more output than an additional unit of labor.
• B) labor decreases output.
• C) labor produces more output than the previous unit.
• D) labor produces less output than the previous unit.

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Definitions:

Mnemonic Devices

Techniques used to help remember information, often through associations, patterns, or acronyms, facilitating easier retrieval from memory.

Algorithms

Step-by-step procedures or formulas for solving problems or completing tasks.

Heuristics

Mental shortcuts or rules of thumb that simplify decision making and problem-solving.

Logarithms

The mathematical operation that determines the power to which a base number is raised to obtain a certain value.