QUESTION 35 As you add more and more units of a variable factor to a fixed factor, marginal output will start to fall at some point. What is this called? O a. Diseconomies of scale O b. Diminishing marginal returns O c. Diseconomies of scope O d. Diminishing average returns

QUESTION 35 As you add more and more units of a variable factor to a fixed factor, marginal output will start to fall at some point. What is this called? O a. Diseconomies of scale O b. Diminishing marginal returns O c. Diseconomies of scope O d. Diminishing average returns

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 40P: Return to Figure 7.7. What is the marginal gain in output from increasing the number of batters from...

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Short-Run Costs and Long-Run Costs

Cost of short-run and the long-run is an economic term that describes the cost involved in the production of goods in a firm in the short as well as long period.

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