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.
A distinguishing characteristic of consumer co-operative society is that the ...
A central argument of cardinal utility is that utility is ...
Long-run production is called ...
The components of a three-sector economy are ...
The following are the objectives of agricultural policies in Nigeria EXCEPT ...
A firm incurs short-run costs when ...
A reduction in the bank rate encourages commercial banks to create money by ...
If a country's national income increased from N1,000 billion over a period of 2 years, what was ...