Economics · Microeconomics
What is the meaning of 'Diminishing Returns'?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Increase in total product of fixed factor
- 2Decrease in average product of fixed factor
- 3Decrease in average product of variable factor✓
- 4Increase in average product of variable factor
Correct answer
Decrease in average product of variable factor
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