9 1 point (CV) & (KA) If we draw the production function with output on the vertical axis and physical capital on the horizontal axis, the slope of the production function will be decreasing because of diminishing marginal product of capital -DO 000 0 it just looks better that way diminishing potential output diminishing technological change

9 1 point (CV) & (KA) If we draw the production function with output on the vertical axis and physical capital on the horizontal axis, the slope of the production function will be decreasing because of diminishing marginal product of capital -DO 000 0 it just looks better that way diminishing potential output diminishing technological change

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter7: Production Economics

Section: Chapter Questions

Problem 1.5CE

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