Business

Nichols

6 October, 01:23

What is the law of diminishing returns? The law of diminishing returns states that

A. dividing the tasks to be performed through division of labor will increase the marginal product of labor.

B. the long-run average cost of production falls as output increases.

C. adding more of a variable input to the same amount of a fixed input will eventually cause the marginal product of the variable input to decline.

D. producing more output by adding more of a variable input will eventually cause the marginal cost of production to decline.

E. adding more of a variable input to the same amount of a fixed input will eventually cause the marginal product of the fixed input to decline.