Microeconomics: Principles, Applications, and Tools (8th Edition)

Published by Prentice Hall
ISBN 10: 0-13294-886-9
ISBN 13: 978-0-13294-886-9

Chapter 2 - The Key Principles of Economics - Exercises - 2.4 The Principle of Diminishing Returns - Page 46: 4.3

Answer

less than at least

Work Step by Step

The principle of diminishing returns says the marginal production falls when one input is increased while other input(s) are held at a fixed level. If one input doubles, the output will increase but by less than double. If all the inputs are doubled the principle of diminishing returns does not apply and we can expect the output to at least double as well.
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