Question on: JAMB Economics - 2022
Which of the following factors is not a cause of diminishing returns?
A
Increase in variable inputs
B
Land fragmentation
C
Constant technology
D
Technological innovations
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Correct Option: D
Option D is the correct answer.Â
The law of diminishing returns, which is also known as the law of variable proportion, applies to the analysis of production in the short run. The causes of diminishing returns, including fixed costs, limited demand, no change in technology, and scarce factors, can all be attributed to this law.
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