If a Production Function Shows Declining Marginal Product of an Input

question 360

Multiple Choice

If a production function shows declining marginal product of an input as the quantity of the input increases, then the production function exhibits

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

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Definitions:

Bronchi

The major air passages of the lungs that diverge from the windpipe, facilitating the transport of air in and out of the lungs.

Alveoli

Tiny air sacs within the lungs where the exchange of oxygen and carbon dioxide occurs.

Gas Exchange

The process of exchanging oxygen and carbon dioxide between an organism and its environment, fundamental for respiration in living beings.

Larynx

The voice box located in the throat responsible for vocalization, breathing, and protecting the trachea against food aspiration.