The law of diminishing returnsA) applies only to agriculture.B) is another way of stating Parkinson's Law.C) focuses on marginal output.D) explains why mass production leads to lower costs.

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Paola Barros · Accepted Answer

Final Answer : C, Explanation :  The law of diminishing returns states that as more and more units of a variable resource (e.g., labor) are added to a fixed resource (e.g., land), the marginal (or additional) output will eventually decrease. This law applies in all production processes, not just agriculture. Parkinson's Law is unrelated to this concept. While mass production can lead to lower costs initially, it does not directly relate to the law of diminishing returns.

The law of diminishing returns

A) applies only to agriculture.
B) is another way of stating Parkinson's Law.
C) focuses on marginal output.
D) explains why mass production leads to lower costs.

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