Which of the following is consistent with diminishing marginal returns
Which of the following is consistent with diminishing marginal returns?
a. increasing labor by 10% and output increasing 10%.
b. increasing labor by 10% and output prices increase by less than 10%.
c. increasing labor by 10% and the marginal product of labor increasing 10%.
d. increasing labor by 10% and output increasing by less than 10%.
ANSWER
D
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