The law of diminishing returns implies that:a.a given percentage increase in all inputs leads to that same percentage increase in output.b.the proportional increase in output is larger than the underlying proportional increase in inputs.c.output increases at a rate less than the proportionate increase in inputs.d.none of these.

Which of the following statements best expresses the law of diminishing marginal returns?Multiple ChoiceThe same percentage increase in all inputs will result in a higher percentage increase in total output.As successive amounts of one resource (labour) are added to fixed amounts of other resources, beyond some point the resulting extra output will decline.Because large-scale production allows the realization of increasing returns to scale, the costs of production vary directly with the level of output.The same percentage increase in all inputs will result in a lower percentage increase in total output.Population growth automatically adjusts to that level at which the average product per worker will be at a maximum.

State the law of diminishing returns

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

A decreasing total product indicate A. The concept of diminishing returns B. Law of variable proportion C. internal diseconomies of scale D. external diseconomies of scale

When the law of diminishing returns begins to operate, the TVC curve begins to. A. fall at an increasing rate B. rise at a decreasing rate C. fall at a decreasing rate D. rise at an increasing rate