JAMB Economics 2018 Objective — Question 19

Question 19 of 40 from the Joint Admissions and Matriculation Board (JAMB) Economics 2018 Objective paper, with the correct answer and a full explanation.

In the production process, the law of diminishing returns begins to set in when

A. All inputs are variable
B. Last variable input results in a decrease in total product
C. Last variable input adds less in relation to the previous variable inputCorrect
D. All inputs are fixed

Explanation

Diminishing returns set in when each additional unit of the variable input adds a smaller increment to total output than the previous unit.

Sign up free to unlock

Score tracking
Practice history
Saved questions
Progress dashboard
Personalized sessions
Weak-topic breakdown

…and/or go further with premium services and No Ads.

Create free account

More questions from Economics 2018 Objective More Economics past papers