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Question
Fill in the blank with appropriate alternative given below
Land is subject to ___________ returns.
Options
increasing
constant
diminishing
negative
Solution
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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