Diminishing marginal returns means that as you combine more units of a variable resource with a set of fixed resources:

a. the average physical product of the fixed inputs increases at an increasing rate.
b. the marginal physical product of the variable input decreases.
c. the total output decreases.
d. the marginal physical product of the variable input increases at a constant rate.
e. the marginal physical product of the variable input increases at a decreasing rate.


b

Economics

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In the United States, credit cards account for about what percentage of the dollar volume of transactions for goods and services?

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The elasticity of supply of product X is unitary if the price of X rises by:

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Economics