January 8, 2015 in Other with: fish, life, pescatarian. I was originally intending to begin this post with the phrase, âI have a confession to makeâ¦â. But then I realized that the use of that phrase makes it sound like I have done something bad or wrong.
The marginal rate of return is a term that is used to identify the rate of return that is generated if a single unit is added to the current process, in comparison with choosing to maintain the status quo or taking some other type of action that exerts some effect on the returns realized.
Which of the following is true at the point where diminishing returns set in? a. Both marginal product and marginal cost are at a maximum. b. Both marginal product and marginal cost are at a minimum. c. Marginal product is at a maximum and marginal cost is at a minimum.