Question on: SS2 Economics - Laws of Variable Proportion
What is the law of variable proportions?
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A
As inputs increase, the output always increases proportionally
B
As inputs increase, output increases at a decreasing rate
C
As inputs increase, output decreases at an increasing rate
D
As inputs increase, output remains constant
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Correct Option: B
(At some point, adding more of a particular input will no longer result in a proportional increase in output)
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