Post Utme Christopher University 2024 Commerce Question 21
Practice objective / multiple choice question 21 from the 2024 Post Utme Christopher University Commerce examination.
In a perfectly competitive market, the law of diminishing marginal returns states that as the quantity of a variable input increases, the marginal product of that input will eventually decrease. However, this decrease in marginal product is not necessarily due to the law of diminishing marginal returns. What is the correct explanation for this decrease in marginal product?
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About This Question
This is Post Utme Christopher University 2024 Commerce Question 21. It is one of the objective questions from the 2024 Post Utme Christopher University Commerce examination.
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