The implications of diminishing marginal returns is that: Group of answer choices beyond some point, the extra utility derived from additional units of a product will yield the consumer smaller and smaller extra amounts of satisfaction. as extra units of a variable resource are added to a fixed resource, marginal product will decline beyond some point. because of economies and diseconomies of scale, a competitive firm's long-run average total cost curve will be U-shaped. the demand for goods produced by purely competitive industries is downsloping.

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Q: Relate the law of diminishing returns to a firm’s short-run production costs.

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A:

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A:

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A: a.

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Q: The law of diminishing returns indicates that: a. as extra units of a variable resource are added to…

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A: Given: q=3L0.2 C=2L p=40 L=50