Diminishing marginal product suggests that the marginal
A)cost of an extra worker is unchanged.
B)cost of an extra worker is less than the previous worker's marginal cost.
C)product of an extra worker is less than the previous worker's marginal product.
D)product of an extra worker is greater than the previous worker's marginal product.

Question

Quizplus · Accepted Answer

Diminishing marginal product occurs when adding more units of input (such as additional workers) results in a smaller increase in output. This means that the marginal product of the additional worker is less than the previous worker's marginal product.

Diminishing Marginal Product Suggests That the Marginal