The law of diminishing returns only applies in cases where:

Related MCQs

• The law of diminishing returns states that:
• Diminishing marginal returns implies:
• Which best expresses the law of diminishing marginal utility?
• Which situation is consistent with the law of diminishing marginal utility?
• Until recently, medical doctors and lawyers have been prohibited from engaging in competitive advertising. If the prisoners’ dilemma applies to this situation, then the presence of this restriction would be likely to
• Increasing returns to scale can be explained in terms of:
• The law of demand states that an increase in the price of a good:
• The law of supply states that an increase in the price of a good:
• Law of variable proportion is valid when:
• --------- goods violate the law of demand after prices have risen above a certain level