A firm experiences diminishing marginal returns because:
A. all factors of production are variable.
B. people "learn by doing."
C. all factors of production are fixed.
D. at least one factor of production is fixed.
Answer:D
A firm experiences diminishing marginal returns because:
A. all factors of production are variable. B. people "learn by doing." C. all factors of production are fixed. D. at least one factor of production is fixed.