The law stating that added quantities of a variable resource will eventually result in less additional output is called the
A) law of consumer sovereignty.
B) profit maximization rule.
C) law of diminishing marginal returns.
D) law of unintended consequences.
E) antivariable output law.

Question

Quizplus · Accepted Answer

The law of diminishing marginal returns states that adding more units of a variable input, while holding all other inputs constant, will eventually result in smaller increases in output. This is because the additional input eventually becomes less productive, leading to a decrease in the overall efficiency of production.

The Law Stating That Added Quantities of a Variable Resource