Authors libby rittenberg 421
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of a variable factor reduce total output, given constant quantities of all
other factors, the company experiencesnegative marginal returns. Now the
total product curve is downward sloping, and the marginal product curve
falls below zero. Figure 8.3 "Increasing Marginal Returns, Diminishing
Marginal Returns, and Negative Marginal Returns" shows the ranges of
increasing, diminishing, and negative marginal returns. Clearly, a firm will
never intentionally add so much of a variable factor of production that it
enters a range of negative marginal returns.
Figure 8.3Increasing Marginal Returns, Diminishing Marginal
Returns, and Negative Marginal Returns
This graph shows Acme’s total product curve from Figure 8.1 "Acme
Clothing’s Total Product Curve" with the ranges of increasing marginal
returns, diminishing marginal returns, and negative marginal returns
marked. Acme experiences increasing marginal returns between 0 and
3 units of labor per day, diminishing marginal returns between 3 and 7
units of labor per day, and negative marginal returns beyond the 7th
unit of labor.
Attributed to Libby Rittenberg and Timothy Tregarthen
Saylor URL: />
Saylor.org
421
