If successive units of labour are added to a piece of lan...
If successive units of labour are added to a piece of land while capital and technology remain constant, a point will be reached in the level of production when each added unit of labour will add less to the output than previous units of the labour. This concept is known as?
The productivity of labour
The law of diminishing marginal utility
The law of diminishing returns
The concept of factor intensity
Labour intensive production
Correct answer is C
No explanation has been provided for this answer.
In the event of bankruptcy, owners of joint-stock companies lose ...
Which modal of the factor is inelastic? ...
The shape of the long-run average cost curve is best explained by the ...
A balance budget is defined as a condition of ...
All the following are factors that would bring about a change in supply except ...
Which of the following is the most important reason why wages differ among occupations? ...
Given that Q d = 20 - 4P and Qs = 6P + 12 If price is increased to N3, how much is the excess sup...
The following are advantages of large scale agriculture except ...
A perfect competitor will continue to expand output up to the point where ...