The law of diminishing marginal productivity holds: Multiple Choice a. when all inputs are variable. b....
The law of diminishing marginal productivity holds:
Multiple Choice
a. when all inputs are variable.
b. in the long run.
c. when all inputs are fixed.
d. in the short run.
Homework Answers
The correct option is d) in the short run.
The law of diminishing marginal productivity holds in the short run.
The law of diminishing marginal productivity does not hold in the long run because no inputs are fixed in the long run. Hence option b is not correct
For this law to hold some variables must variable some needs to be fixed. Hence, option a and c are incorrect.
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The law of diminishing marginal productivity holds:
Multiple Choice
a. when all inputs are variable.
b....
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