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Shaiday Thomas
on Oct 12, 2024

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The production function illustrates

A) The Law of Demand.
B) The Law of Increasing Opportunity Cost.
C) The Law of Diminishing Marginal Utility.
D) The Law of Diminishing Marginal Returns.
E) The Law of Supply.

Production Function

A production function describes the relationship between inputs used in production and the output generated from those inputs.

Law Of Diminishing Marginal Returns

A principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if other inputs remain constant.

  • Understand the principle and implications of the law of diminishing returns across different industries.
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Bryan Loic MAVAHOct 17, 2024
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