"Diminishing Marginal Returns" Means That

question 141

Multiple Choice

"Diminishing marginal returns" means that:

• A) each additional unit of an input used will decrease output.
• B) each additional unit of an input used will increase output, but by smaller and smaller amounts.
• C) each additional unit of an input used will increase output by larger and larger amounts.
• D) the firm is maximizing profit.

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Definitions:

Proportions

The relationship in size, amount, degree, or number between two or more things; often involves mathematical ratio.

Presbyopia

A natural age-related decline in the eye's ability to focus on close objects, usually becoming noticeable in early to mid-adulthood.

Near Vision

The ability to see objects clearly at a close range.

Middle Adulthood

A life stage typically ranging from about 40 to 65 years old, characterized by increased personal and professional stability and adjustments to aging.