Diminishing marginal returns implies:

Related MCQs

• The law of diminishing returns states that:
• The law of diminishing returns only applies in cases where:
• Which best expresses the law of diminishing marginal utility?
• Which situation is consistent with the law of diminishing marginal utility?
• If you know that the marginal utility per rupees spent on product Alpha is less than the marginal utility per rupees spent on product Beta, consumers who spend all their income on these two products can:
• Increasing returns to scale can be explained in terms of:
• Which of the following defines marginal utility?
• A consumer is in equilibrium and is spending income in such a way that the marginal utility of product X is 40 units and Y is 16 units. The unit price of X is Rs.5. The price of Y is:
• The marginal product of labour curve shows the change in total product resulting from a:
• When marginal product reaches its maximum, what can be said of total product?