The Observation That After Some Point, Successive Equal Size Increases

question 80

Multiple Choice

The observation that after some point, successive equal size increases in a variable factor of production, such as labor, added to fixed factors of production, will result in smaller increases in output is the

• A) law of diminishing marginal product.
• B) streamlining production function.
• C) consumer equilibrium.
• D) theory of increasing marginal utility.

---

Definitions:

Preconscious

The part of the mind containing contents that are not in immediate awareness but can be accessed easily.

Reality Principle

A psychoanalytic concept referring to the capacity of the mind to assess the external world and act upon it appropriately, as opposed to acting on the pleasure principle.

Pleasure Principle

A psychoanalytic concept that describes people's instinctual seeking of pleasure and avoidance of pain to satisfy biological and psychological needs.

Ego

A part of the psyche that mediates between the conscious, the unconscious, and the reality by deploying defense mechanisms.