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Fill in the blank with appropriate alternative given below:Land is subject to ___________ returns.Optionsincreasingconstantdiminishingnegative |
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Answer» Land is subject to diminishing returns. Explanation: Land is a fixed factor of production. When more and more units of labour and capital are applied to land, the total output increase but only at a decreasing rate. Thus, we can say that land is subject to diminishing returns. |
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