If successive unit of labour are added to a piece of land while capital and technology remains constant, a point will be reached in the level of production when each additional unit of labour will add less to the output than previous units. This concept is known as

Similar Questions

The organization which provides credit to help countries achieve short-term balance in their balance...

An increase in money income with constant price results in ...

The use of modern weaving machines in the production of local fabric will result in ...

Which of the following is NOT among the financial institutions in Nigeria? ...

A typical corporate form of business organization is owned by ______ ...

The natural growth rate of a population is the ...

Under the Nigerian Structural Adjustment Programme, the marketing of agricultural commodities in Nig...

Which is the dominant form of tax in Nigeria ...

If the quantity demanded of a commodity increases from 20 to 30 when there is an increase in price f...

The charging of different prices to different group of buyers for the same goods or services is call...