The situation pictured in Figure 6.3 A) is one of increasing marginal
The situation pictured in Figure 6.3
A) is one of increasing marginal returns to labor.
B) is one of increasing marginal returns to capital.
C) is not consistent with diminishing marginal product of labor or capital.
D) shows constant returns to scale.
E) shows diminishing marginal products of labor and capital.
ANSWER
E
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