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Which of the following production functions is consistent with the law of diminishing marginal returns? OA ОВ. D C do Output
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Answer #1

Solution:

The law of diminishing marginal returns states that a lower additional output is produced with every successive input unit. In other words, it means that as the input is increased, the additional output it produces goes on decreasing/diminishing. So, the production function depicting such property must be concave shaped.

So, the correct option is (c).

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