Define the diminishing return.

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Answer 1

Question

Chapter 7, Problem 2.1P

(a)

To determine

Define the diminishing return.

(b)

To determine

The diminishing return.

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The following table gives total output or total product as a func- tion of labor units used. LABOR TOTAL OUTPUT 1 5 2 9 3 12 4 14 5 15 a. Define diminishing returns. b. Does the table indicate a situation of diminishing returns? Explain your answer.

Answer 2

Question

Chapter 7, Problem 2.1P

(a)

To determine

Define the diminishing return.

(b)

To determine

The diminishing return.

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Answer 3

Question

Chapter 7, Problem 2.1P

(a)

To determine

Define the diminishing return.

(b)

To determine

The diminishing return.

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Answer 4

Question

Chapter 7, Problem 2.1P

(a)

To determine

Define the diminishing return.

(b)

To determine

The diminishing return.

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Answer 5

Chapter 7, Problem 2.1P

(a)

To determine

Define the diminishing return.

(b)

To determine

The diminishing return.

Answer 6

Chapter 7, Problem 2.1P

(a)

To determine

Define the diminishing return.

Answer 7

Chapter 7, Problem 2.1P

(a)

To determine

Define the diminishing return.

Answer 8

(b)

To determine

The diminishing return.

Answer 9

(b)

To determine

The diminishing return.

Answer 10

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Answer 13

Ch. 7.A - Prob. 1P Ch. 7.A - Prob. 2P Ch. 7.A - Prob. 3P Ch. 7.A - Prob. 4P Ch. 7.A - Prob. 5P Ch. 7 - Prob. 1.1P Ch. 7 - Prob. 1.2P Ch. 7 - Prob. 1.3P Ch. 7 - Prob. 1.4P Ch. 7 - Prob. 1.5P

Define the diminishing return.

Solution Summary: The author defines the diminishing return as the declining of the marginal product of a production when the additional number or the units of fixed input are used.

Concept explainers

Define the diminishing return.

The diminishing return.

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Chapter 7 Solutions