At the point where diminishing marginal returns of an input sets in, the:
A. Average product starts to decrease
B. Marginal product starts to decrease
C. Total product starts to decrease
D. Average product exceeds the marginal product
B. Marginal product starts to decrease
Economics
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Which of the following would cause a leftward shift in the demand curve for a good?
A) an increase in income B) an increase in the price of a complementary good C) an increase in the price of a substitute D) the expectation that there will be a shortage in the availability of the good
Economics
The market for renewable resources often fail to allocate the resources to their highest-valued uses
a. True b. False Indicate whether the statement is true or false
Economics