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Question
As successive equal increases in a variable factor of production are added to fixed factors of production, there will be a point beyond which the extra product that can be attributed to each additional unit of the variable factor of production will decline. This is known as the law of
A) diminishing total product.
B) diminishing average product.
C) diminishing marginal product.
D) decreasing product.
Answer
This answer is hidden. It contains 1 characters.
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