The Principle of Diminishing Marginal Returns means what? the more a good is consumed, the lower the average benefit from consumption. the more of a good that is produced, the greater the benefit of the last good to the supplier. the less of a good that is produced, the greater the average productivity of inputs. The more of a good that is produced, the lower the productivity of the last input to production. the more of a good that is produced, the greater the marginal productivity of the last input.
The Principle of Diminishing Marginal Returns means what? the more a good is consumed, the lower the average benefit from consumption. the more of a good that is produced, the greater the benefit of the last good to the supplier. the less of a good that is produced, the greater the average productivity of inputs. The more of a good that is produced, the lower the productivity of the last input to production. the more of a good that is produced, the greater the marginal productivity of the last input.
Chapter8: Production And Costs
Section: Chapter Questions
Problem 15QP
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The Principle of Diminishing Marginal Returns means what?
the more a good is consumed, the lower the average benefit from consumption.
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the more of a good that is produced, the greater the benefit of the last good to the supplier.
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the less of a good that is produced, the greater the average productivity of inputs.
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The more of a good that is produced, the lower the productivity of the last input to production.
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the more of a good that is produced, the greater the marginal productivity of the last input.
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