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MICROECONOMICS CH : 7 PRODUCTION FUNTION AND RETURNS TO A FACTOR — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsMICROECONOMICS CH : 7 PRODUCTION FUNTION AND RETURNS TO A FACTOR1 Mark
MCQ
Stages of production are the consequences of:
  • A
    Law of Diminishing Marginal Rate of Transformation
  • B
    Law of Diminishing Marginal Utility
  • ✓
    Law of Variable Proportions
  • D
    Law of Diminishing Returns to Scale
✓

Answer

Correct option: C.
Law of Variable Proportions
(c)

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