Economics · Production and Costs
Which economic law states that 'as more and more units of a variable factor are employed with fixed factors and technology, its marginal product eventually declines'?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The law of returns to scale
- 2The law of variable proportions✓
- 3Law of demand
- 4Law of diminishing marginal utility
Correct answer
The law of variable proportions
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