The Law of Diminishing Returns Is Expressed in Terms of an Eventual

question 58

Multiple Choice

The law of diminishing returns is expressed in terms of an eventual decline in the:

• A)total product of an input.
• B)average product of an input.
• C)marginal product of an input.
• D)returns to scale of an input.
• E)broadest general productivity measures only.

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Definitions:

Prototypes

Original models or first versions of a product or concept that are used as a basis for further development or comparison.

Concepts

Abstract ideas or mental symbols that represent elements of reality, organizing knowledge in ways that facilitate understanding and communication.

Images

Visual representations, either mental or physical, of an object or scene.

Mental Age

A concept used to describe the intellectual capability of a person, expressed as the age at which an average individual reaches the same level of understanding or ability.