Economics · Microeconomics
According to modern economists, from which point does the Law of Diminishing Returns begin to operate?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1None of the above
- 2Where the average product of the variable input begins to decline
- 3Where the marginal product of the variable input begins to decline✓
- 4Where the total product of the variable input begins to decline
Correct answer
Where the marginal product of the variable input begins to decline
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