What is the initial phase of the Law of Variable Proportions, where the marginal product of the variable input increases? Diminishing returns phase Increasing returns phase Negative returns phase Constant returns phase

What happens to the average product during the stage of diminishing returns in the Law of Variable Proportions? It increases. It decreases. It becomes negative. It remains constant.

The law of diminishing marginal productivity states that, as more of a variable input is added to a fixed input, the:Question 5Answera.Marginal product of the variable input will eventually decrease.b.Total product will increase indefinitely.c.Average total cost will decrease.d.Fixed input will become variable.

Fill in the Blank QuestionFill in the blank question.When marginal product decreases when one more unit of labor is added, this reminds us of the law of . (Enter one word per blank.)

Which of the following is a true statement about the Law of Variable Proportions?It assumes that all units of the variable input are heterogeneous.It is applicable only in the long run.It is applicable only to the agriculture sector.It operates in the short run when at least one factor of production is fixed

The law of diminishing marginal returns means that when one uses more and more of an input: