Question 26

If successive unit of labour are added to a piece of land while capital and technology remains constant, a point will be reached in the level of production when each additional unit of labour will add less to the output than previous units. This concept is known as

  • A.productivity of labour
  • B.law of diminishing marginal utility
  • C.law of diminishing returns
  • D.law of diminishing returns of a variable factor
  • E.internal economies of sales
Objective

Question details

Exam body
WAEC
Subject
Economics
Year
1994
Question no.
#26
Type
Objective

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