8. The law of diminishing returns only applies in cases where: * a. There is increasing scarcity of factors of production. b. The price of extra units of a factor is increasing. c. There is at least...

8. The law of diminishing returns only<br>applies in cases where: *<br>a. There is increasing scarcity of factors of<br>production.<br>b. The price of extra units of a factor is<br>increasing.<br>c. There is at least one fixed factor of<br>production.<br>d. The capital is a variable input.<br>

Extracted text: 8. The law of diminishing returns only applies in cases where: * a. There is increasing scarcity of factors of production. b. The price of extra units of a factor is increasing. c. There is at least one fixed factor of production. d. The capital is a variable input.

Jun 10, 2022

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8. The law of diminishing returns only applies in cases where: * a. There is increasing scarcity of factors of production. b. The price of extra units of a factor is increasing. c. There is at least...

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