Which of the following explains the ability of the U.S. economy to avoid diminishing marginal...
Question:
Which of the following explains the ability of the U.S. economy to avoid diminishing marginal returns and experience accelerating growth in the early to mid-20th century?
A) Continuing technological change
B) Immigration
C) Additions of a greater amount of capital of the same quality
D) A decrease in the quality of labor
Law of diminishing marginal returns:
The Law of diminishing marginal returns is associated with when a firm adds a certain factor of production that will lead towards a little rise in the output. It will help in increasing the input in the short run by making one variable constant.
Answer and Explanation: 1
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View this answerThe correct answer is Option A) Continuing technological change.
Suppose the U.S economy wants to the diminishing marginal return and wanted to...
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The Law of Diminishing Marginal Returns
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Chapter 4 / Lesson 6
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The law of diminishing marginal returns refers to the idea that the individual benefit of subsequent products or uses of a product decrease marginally over time. See how 'enough is enough', and calculate marginal returns using the curve to represent these decreases over time/uses.
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