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WAEC Agricultural Science 1992 Question 57

Question 57

Basic Agricultural Economics

To which of the following factors of production does the law of diminishing returns relate?

  1. A.Unit factor
  2. B.Fixed factors
  3. C.Variable factors
  4. D.Labour force
  5. E.Labour efficiency.
Show the answer and explanation

Answer: C (Variable factors)

Explanation

Adding more of a variable factor to fixed factors eventually gives smaller extra output.