According to the Principle of Diminishing Returns to Labor, If

question 81

Multiple Choice

According to the principle of diminishing returns to labor, if the amount of capital and other inputs are held constant, employing additional workers:

• A)increases output at an increasing rate.
• B)increases output at a constant rate.
• C)increases output at a decreasing rate.
• D)decreases output at an increasing rate

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Definitions:

Breakthroughs

Significant discoveries or achievements that facilitate major progress in a particular field.

Innovators

Early adopters of new technologies, trends, or products, who are often key to initiating the spread or acceptance of innovations within a larger population.

Late Adopters

Individuals or groups who purchase or try new products or adopt new technologies later than the majority of consumers.

Early Majority

A segment of consumers in the diffusion of innovation theory who adopt new products or services after a careful review once they have been proven by early adopters.