The Law of Diminishing Marginal Product

question 176

Multiple Choice

The law of diminishing marginal product

• A) holds in the short run and the long run because as you increase the amount of variable inputs eventually the increases in output will decrease.
• B) does not hold in the short run because of fixed costs.
• C) does not hold in the long run because there are no fixed inputs in the long run.
• D) holds in the short and long run because of economies to scale.

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