MCQOPTIONS
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| 1. |
_ “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:$? |
| A. | Law of diminishing return |
| B. | Law of supply |
| C. | Law of demand |
| D. | Law of supply and demand |
| Answer» B. Law of supply | |