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olivefrog892Lv1
28 Sep 2019
The law of diminishing returns says that when some factors of production are fixed:
a) total utility eventually falls as consumers purchase more of a good.
b) total revenue decreases as output increases, holding technology fixed.
c) increased production of the good eventually requires ever-larger increases in the variable factor.
d) opportunity costs increase as the production of one good increases.
The law of diminishing returns says that when some factors of production are fixed:
a) total utility eventually falls as consumers purchase more of a good.
b) total revenue decreases as output increases, holding technology fixed.
c) increased production of the good eventually requires ever-larger increases in the variable factor.
d) opportunity costs increase as the production of one good increases.
Joshua StredderLv10
28 Sep 2019
