If a production function shows declining marginal product of an input as the qua

Question

If a production function shows declining marginal product of an input as the quantity of the input increases, then the production function exhibits Answer a. increasing returns to scale. b. decreasing marginal product. c. diminishing profitability. d. increasing marginal product. If a production function shows declining marginal product of an input as the quantity of the input increases, then the production function exhibits increasing returns to scale. decreasing marginal product. diminishing profitability. increasing marginal product. a. increasing returns to scale. b. decreasing marginal product. c. diminishing profitability. d. increasing marginal product.

Explanation / Answer

decreasing marginal product. b. decreasing marginal product.

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