WAEC Economics 2012 Objective — Question 16
Question 16 of 49 from the West African Examinations Council (WAEC) Economics 2012 Objective paper, with the correct answer and a full explanation.
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Why is the law of diminishing returns a short run phenomenon?
- A. All inputs are fixed
- B. All inputs are variable
- C. Some outputs are variable
- D. Some inputs are variableCorrect
Explanation
Some inputs are variable while at least one is fixed in the short run.
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