The Observation That Beyond Some Point, Successive Increases in a Variable

question 146

Multiple Choice

The observation that beyond some point, successive increases in a variable factor of production added to a fixed factor of production lead to smaller and smaller increases in output is

• A) the law of marginal utility.
• B) the law of averages.
• C) the law of diminishing marginal product.
• D) the law of opportunity costs.

---

Definitions:

Performance Pressure

The stress or anxiety felt to achieve or perform at high levels in various activities or roles.

Glass Ceiling

An invisible barrier that prevents certain individuals, particularly women and minorities, from advancing beyond a certain level in a hierarchy or profession.

Wage Gap

The disparity in earnings between different groups of people, often highlighting differences based on gender, race, or other demographic factors.

Low-Wage Worker

A term referring to employees who earn wages at or near the minimum levels permissible by law or prevailing wage levels in a given region.