-Refer to the Graph Above to Answer This Question

question 152

Multiple Choice

-Refer to the graph above to answer this question.At what output does diminishing returns begin?

• A)1.
• B)6.
• C)8.
• D)11.

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Definitions:

Opportunity Costs

The cost associated with an alternative that is foregone when a particular decision or action is taken.

Manufacturers

Manufacturers are entities engaged in the industrial production of goods from raw materials through the use of machinery and labor.

Market

A place or mechanism where buyers and sellers converge to trade goods, services, or resources.

Production Possibility Frontier

A curve representing the maximum combinations of goods or services that can be produced with limited resources.