The ‘law of diminishing returns to scale’ refers to the general tendency for…to eventually diminish as more of the variable input is employed, given the quantity of fixed inputs

Exam Question

“The ‘law of diminishing returns to scale’ refers to the general tendency for…to eventually diminish as more of the variable input is employed, given the quantity of fixed inputs.”

• 1. marginal product
• 2. average total cost
• 3. marginal cost
• 4. average product

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