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Introduction to Economics 1
Introduction to Economics 1 Deneme Sınavı
Introduction to Economics 1 Deneme Sınavı Sorusu #1144470
Introduction to Economics 1 Deneme Sınavı Sorusu #1144470
What does diminishing return marginal mean?
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Using more labor while other inputs are fixed, the marginal product will eventually become less and then this is known as diminishing marginal returns. |
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Increase in the marginal product of a variable input. |
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If a firm keeps increasing the amount of labor it uses, ceteris paribus, the total output will decrease. |
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The marginal product of variable input firstly decreases and then finally decreases again. |
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The cost advantage usually diminishes for each additional unit of output. |
Yanıt Açıklaması:
To use more and more labor while other inputs are fixed, the marginal product will eventually become less and less. This is known as diminishing marginal returns.
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