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The property of marginal cost increasing as the quantity of output increases is known as diminishing marginal product.
What is diminishing marginal product?
Diminishing marginal product states that says as more units of a variable input of production is added to a fixed factor of production, output might increase initially but after a point total output would increase at a decreasing rate and marginal product would begin to decrease.
To learn more about diminishing marginal product, please check: brainly.com/question/10511919
Marginal cost increases as the quantity of output increases. This reflects the property of diminishing marginal product.
What do you mean by Marginal cost?
Marginal cost refers to the change in total production cost by producing one additional unit.
A company can maximize its profits by producing to where marginal cost equals marginal revenue. The law of diminishing marginal product where an advantage can be gained for a factor of production.
Learn more about Marginal Cost here:
https://brainly.com/question/7781429
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