“When one of the factors of production is fixed in quantity or is difficult to

Question

“When one of the factors of production is fixed in quantity or is difficult to increase, increasing the other factors of production will result in a less than proportionate increase in output”. This statement is known as the:

Options:

A . Law of diminishing return

B . Law of supply

C . Law of demand

D . Law of supply and demand

Answer: Option A

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