| 1. | Diminishing returns occur when the marginal product of the variable input is negative.
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| 2. | When the marginal product of labor is increasing, this is called increasing marginal returns.
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| 3. | It can be considered to be equivalent to the marginal product of new capital.
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| 4. | Diminishing marginal returns means that the marginal product of the variable input is falling.
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| 5. | Modern economics theorises productivity in terms of the marginal product of the factors of production.
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| 6. | The marginal product line shifts upwards to the right, that is to "'N1 " '.
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| 7. | "Marginal products are being weeded out, " he said.
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| 8. | It can be roughly considered to be equivalent to the marginal product of new capital.
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| 9. | When the marginal product of labor becomes negative, it is known as negative marginal returns.
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| 10. | Therefore, marginal cost is simply the wage rate w divided by the marginal product of labor
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