(Figure: The Total Product) Use Figure: The Total Product.Labor added from L₁ and up to L₂ is:

A) subject to diminishing marginal returns.
B) adding to total product at an increasing rate.
C) adding nothing to total product.
D) adding to total product at a constant rate.

Question

Cameron Michael · Accepted Answer

Final Answer : A, Explanation :  As more labor is added, the increase in total product becomes smaller and smaller, indicating diminishing marginal returns.

(Figure: The Total Product) Use Figure: The Total Product.Labor added from L₁ and up to L₂ is:

A) subject to diminishing marginal returns.
B) adding to total product at an increasing rate.
C) adding nothing to total product.
D) adding to total product at a constant rate.

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Learning Objectives

Related questions

(Figure: The Total Product) Use Figure: The Total Product.Labor added from L1 and up to L2 is:A) subject to diminishing marginal returns.B) adding to total product at an increasing rate.C) adding nothing to total product.D) adding to total product at a constant rate.

Definitions

Learning Objectives

Learning Objectives

Related questions

(Figure: The Total Product) Use Figure: The Total Product.Labor added from L₁ and up to L₂ is:

A) subject to diminishing marginal returns.
B) adding to total product at an increasing rate.
C) adding nothing to total product.
D) adding to total product at a constant rate.