The essence of the law of diminishing returns is that the marginal product of a variable input will eventually decline from a certain point in the short run (because all or some of the other inputs are fixed). Note, that you will lose 50% of the mark for this question if you choose the incorrect option. If you are not sure about the answer and do not want to guess, choose the "Unsure" option. You will neither receive marks for the question nor will you lose marks for choosing this option. True O False O Unsure

The essence of the law of diminishing returns is that the marginal product of a variable input will eventually decline from a certain point in the short run (because all or some of the other inputs are fixed). Note, that you will lose 50% of the mark for this question if you choose the incorrect option. If you are not sure about the answer and do not want to guess, choose the "Unsure" option. You will neither receive marks for the question nor will you lose marks for choosing this option. True O False O Unsure

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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