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| 1. |
What is law of diminishing marginal product ? |
| Answer» <html><body><p></p>Solution :It states that initially as inputs are employed <a href="https://interviewquestions.tuteehub.com/tag/mp-565167" style="font-weight:bold;" target="_blank" title="Click to know more about MP">MP</a> <a href="https://interviewquestions.tuteehub.com/tag/increases-1040626" style="font-weight:bold;" target="_blank" title="Click to know more about INCREASES">INCREASES</a>. After a point of time, MP remains positive but starts <a href="https://interviewquestions.tuteehub.com/tag/falling-983241" style="font-weight:bold;" target="_blank" title="Click to know more about FALLING">FALLING</a>. Then there <a href="https://interviewquestions.tuteehub.com/tag/comes-2017383" style="font-weight:bold;" target="_blank" title="Click to know more about COMES">COMES</a> a phase where MP becomes negative as more inputs are employed.</body></html> | |