The law of diminishing returns

is reflected in the negatively sloped portion of the marginal product curve

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is the result of specialization and division of labor

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is related to increasing coordination problems

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None of the above are correct

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Solution

The correct options are
A
is reflected in the negatively sloped portion of the marginal product curve

C
is related to increasing coordination problems

The law of diminishing returns is reflected in the negatively sloped portion of the marginal product curve

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Similar questions

Which of the following are true?

a) Demand curve slopes downward because it is based upon law of diminishing marginal utility
b) Demand curve and demand schedule convey same information

State the behaviour of marginal product when only one input is increased and other inputs are held constant.

Explain what you understand by the "law of diminishing marginal product".

Giving reasons, state whether the following statements are true or false:
(i) Average product will increase only when marginal product increases.
(ii) Under diminishing returns to a factor, total product continues to increase until marginal product reaches zero.

What is the law of diminishing marginal product?

Complete the following table:

$\begin{matrix} Output units & Average fixed cost (Rs) & Marginal cost (Rs) & Average variable cost (Rs) & Average cost (Rs) 1 & 60 & 20 & - & - 2 & - & - & 19 & - 3 & 20 & - & 18 & - 4 & - & 18 & - & - 5 & 12 & - & - & 31 \end{matrix}$

State whether the following statements are true or false. Give reasons for your answer: a. Under diminishing returns to a factor marginal product and total product both increase at a diminishing rate. b. When marginal cost rises, average cost also rises. c. Marginal revenue can never be negative.

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The law of diminishing returns

The correct options are A is reflected in the negatively sloped portion of the marginal product curve C is related to increasing coordination problems The law of diminishing returns is reflected in the negatively sloped portion of the marginal product curve

The correct options are
A
is reflected in the negatively sloped portion of the marginal product curve

C
is related to increasing coordination problems

The law of diminishing returns is reflected in the negatively sloped portion of the marginal product curve