When an Additional Unit of a Variable Factor of Production

question 209

Multiple Choice

When an additional unit of a variable factor of production adds less to total product than the previous unit, the firm must be experiencing:

• A) increasing returns.
• B) diminishing marginal returns.
• C) diminishing average returns.
• D) both B and C.

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Definitions:

Movement

The act or process of moving, involving physical change in position or relocation of an object or organism.

Back Propagation

A key algorithm in neural networks used for training, by adjusting weights based on the error rate obtained in the previous epoch.

Neuroplasticity

The brain's ability to reorganize itself by forming new neural connections throughout life, allowing the neurons (nerve cells) in the brain to compensate for injury and disease and to adjust their activities in response to new situations or changes in their environment.

Absolutely Refractory

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