A short-run production function becomes flatter due to diminishing marginal product.

In the short run, at least one factor of production is fixed (usually capital), while others (like labor) can be varied. As more units of a variable input (like labor) are added to a fixed input (like capital), the firm may initially experience increasing marginal returns, where each additional unit of the variable input produces more output than the previous one. This is due to more efficient use of the fixed input.

However, after a certain point, the firm will start to experience diminishing marginal returns, where each additional unit of the variable input produces less output than the previous one. This is because the fixed input becomes more and more fully utilized, and adding more of the variable input leads to overcrowding and inefficiency.

As a result, the production function becomes flatter, indicating that each additional unit of input results in a smaller increase in output.

So, the correct answer is "Diminishing marginal product."

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A short-run production function becomes flatter due to diminishing marginal product.

In the short run, at least one factor of production is fixed (usually capital), while others (like labor) can be varied. As more units of a variable input (like labor) are added to a fixed input (like capital), the firm may initially experience increasing marginal returns, where each additional unit of the variable input produces more output than the previous one. This is due to more efficient use of the fixed input.

However, after a certain point, the firm will start to experience diminishing marginal returns, where each additional unit of the variable input produces less output than the previous one. This is because the fixed input becomes more and more fully utilized, and adding more of the variable input leads to overcrowding and inefficiency.

As a result, the production function becomes flatter, indicating that each additional unit of input results in a smaller increase in output.

So, the correct answer is "Diminishing marginal product."

Knowee AI · Accepted Answer

A short-run production function becomes flatter due to diminishing marginal product.

In the short run, at least one factor of production is fixed (usually capital), while others (like labor) can be varied. As more units of a variable input (like labor) are added to a fixed input (like capital), the firm may initially experience increasing marginal returns, where each additional unit of the variable input produces more output than the previous one. This is due to more efficient use of the fixed input.

However, after a certain point, the firm will start to experience diminishing marginal returns, where each additional unit of the variable input produces less output than the previous one. This is because the fixed input becomes more and more fully utilized, and adding more of the variable input leads to overcrowding and inefficiency.

As a result, the production function becomes flatter, indicating that each additional unit of input results in a smaller increase in output.

So, the correct answer is "Diminishing marginal product."

A short-run production function at some point becomes flatter due to: Group of answer choicesDecreasing returns to scale.Increasing returns to scale.The fact that a firm has to hire poorer quality workers as production increases.Diminishing marginal product.None of the above.

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