Which statement best illustrates the law of diminishing returns? A. The average

Question

Which statement best illustrates the law of diminishing returns?
A. The average total cost of the last unit of a resource used is less than the average total cost of the previous resource used
B. The marginal product of the last unit of a resource used is less than the marginal product of the previous resource used
C. The average product of the last unit of a resource used is less than the average product of the previous resource used
D. The marginal cost of the last unit of a resource used is less than the marginal cost of the previous resource used

Explanation / Answer

B. The marginal product of the last unit of a resource used is less than the marginal product of the previous resource used

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