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Home Questions Y2KK383U9H
Target Exam

CUET

Subject

Economics

Chapter

Micro Economics: Production and Costs

Question:
Law of variable proportions is called
Options:
Law of increasing Marginal Product
Law of diminishing Marginal Product
Law of constant Marginal Product
Law of variable Marginal Product
Correct Answer:
Law of diminishing Marginal Product
Explanation:
Law of variable proportions say that the marginal product of a factor input initially rises with its employment level. But after reaching a certain level of employment, it starts falling.

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