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: 4.5

Answer

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Work Step by Step

With all other facctors being held at a steady amount, increasing the amount of fertilizer will increase the crop yield, but the principle of diminishing returns tells us the rate will decrease with each additional amount that is input.
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