The Law of Diminishing Marginal Returns

question 41

Multiple Choice

The law of diminishing marginal returns:

• A)is relevant in both the short and the long-run.
• B)says that increasing fixed inputs eventually results in smaller and smaller increases in total output.
• C)says that increasing variable inputs eventually results in smaller and smaller increases in total output.
• D)says that increasing variable inputs eventually results in smaller and smaller increases in total cost.

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Definitions:

Heredity

The passing of traits from parents to offspring through genes, influencing characteristics such as height, eye color, and susceptibility to certain diseases.

Environment

The surrounding physical, biological and socio-economic conditions in which an organism or community lives.

Shaping Development

The process by which behavior is gradually guided toward a desired pattern through positive reinforcement of successive approximations to the target behavior.

Cellular-Clock Theory

A theory suggesting that aging is the result of cells hitting a limit on the number of times they can divide, influenced by telomeres' length at the ends of chromosomes.