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Question Practice

What does the term 'law of diminishing returns' imply?

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MCQ_SA
CBSE
Class 12
Economics
Introductory Microeconomics
Production And Costs
Question Bank

What does the term 'law of dim...

Single Answer MCQ
Q-00089426

What does the term 'law of diminishing returns' imply?

1

Output increases indefinitely with more input

2

At a certain point, adding more input yields progressively smaller increases in output

3

Total production declines with additional input

4

Costs remain constant regardless of input

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