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Question
| Quantity of Workers | Total Product | Average Physical Product | Marginal Physical Product |
| 0 | 0 | ||
| 1 | 3 | ||
| 2 | 7 | ||
| 3 | 12 | ||
| 4 | 16 | ||
| 5 | 18 | ||
| 6 | 18 |
The observation that after some point, successive equal size increases in a variable factor of production, such as labor, added to fixed factors of production, will result in smaller increases in output is the
A) law of diminishing marginal product.
B) streamlining production function.
C) consumer equilibrium.
D) theory of increasing marginal utility.
Answer
This answer is hidden. It contains 1 characters.
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