Discussion
Which of the following statements about the law of diminishing marginal productivity is INCORRECT?
Answer: A
The incorrect statement is the first one. The law of diminishing marginal productivity arises when more of a variable input is added to a fixed input; marginal productivity falls after a point. It does not arise because of advantageous changes made to the fixed input. The second statement is a loose description of the same law, the third states how managers use it, and the fourth is correct because the law is also called the law of diminishing marginal returns.
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