When the law of diminishing returns takes effect a. a firm must always try to add the same amount of input to the production process. b. more input must be added in order to increase its output. c. firms must add decreasingly more input if they are to maintain the same extra amount of output. d. firms must add increasingly more input if they are to maintain the same extra amount of output.
When the law of diminishing returns takes effect a. a firm must always try to add the same amount of input to the production process. b. more input must be added in order to increase its output. c. firms must add decreasingly more input if they are to maintain the same extra amount of output. d. firms must add increasingly more input if they are to maintain the same extra amount of output.
Chapter7: Production And Cost In The Firm
Section: Chapter Questions
Problem 4.10P
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When the law of diminishing returns takes effect
a. a firm must always try to add the same amount of input to the production process.
b. more input must be added in order to increase its output.
c. firms must add decreasingly more input if they are to maintain the same extra amount of output.
d. firms must add increasingly more input if they are to maintain the same extra amount of output.
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