Among the following the law of diminishing returns begins to operate when
The law of diminishing marginal returns begins to operate at the point where the marginal product of the variable input reaches its peak and starts to fall . At this stage,…
Choose your answer
Among the following the law of diminishing returns begins to operate when
Answer and explanation
Correct answer C
The law of diminishing marginal returns begins to operate at the point where the marginal product of the variable input reaches its peak and starts to fall . At this stage, total product continues to increase, but at a diminishing rate.
Practice for these exams
-
UGC NET Economics