According to the law of diminishing returns, the total product declines as more units of a variable factor are added to
Posted: Sun Jun 05, 2022 11:58 am
- According To The Law Of Diminishing Returns The Total Product Declines As More Units Of A Variable Factor Are Added To 1 (64.89 KiB) Viewed 42 times
According to the law of diminishing returns, the total product declines as more units of a variable factor are added to a fixed factor. the marginal product of a variable factor eventually declines as more units of it are added to a fixed factor. as long as the marginal product is positive, total product will decrease. the marginal product eventually increases as more units of a variable factor are added to a fixed factor.