Answer to Question #258001 in Microeconomics for desteen

Question

Diminishing returns refers to the decrease in.... A. long-run average cost that results from increases in output. B. average total cost that results from decreases in input prices. C. profit that results from increases in output. D. average product that results from increases in the variable input.

Answer 1

C. profit that results from increases in output

It is the production process' marginal output as amount of a production aspect is increased incrementally.