The fact that the marginal product falls as the number of workers increases illustrates a property calleda. diminishing marginal product. b. supply and demand. c. labor theory. d. utility maximization.

Question

Business

Mittens

22 December, 19:41

The fact that the marginal product falls as the number of workers increases illustrates a property calleda. diminishing marginal product. b. supply and demand. c. labor theory. d. utility maximization.

+1

Answers (1)

Know the Answer?

Finnegan Holmes · Answer 1

Answer: The fact that the marginal product falls as the number of workers increases illustrates a property called "a. diminishing marginal product".

Explanation: The law of diminishing returns is an economic concept according to which increasing the amount of a productive factor in the production of the good or service in question, causes the production yield to be lower as we increase this factor. As long as all other factors are maintained at a constant level (ceteris paribus).