The law of diminishing returns makes it clear that as more a variable input is employed ……..?
Select ONE answer:
- In the long-run, the marginal product of the variable input will eventually fall.
- In the short-run, the marginal product of the variable input will eventually fall.
- In the short-run, the marginal product of the variable input will eventually rise.
- In the long-run, the marginal product of the variable input will eventually rise.
Show your workings to arrive at your answer, and explain and justify your reasons:……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………
This multiple choice question is suitable for Economics KS5 classes.
The answer is 2
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