Which of the following tables represents diminishing returns to scale? (In the tables - K stands for Capital, L for Labour and TP for Total Production) Table 1 Table 2 Table 3 Table 4 K L TP K L TP K L TP K L TP 1 2 10 1
CS CSEET · Business Economics & Fundamentals of Accounting and Auditing · PYQS · June 2013
Which of the following tables represents diminishing returns to scale? (In the tables - K stands for Capital, L for Labour and TP for Total Production) Table 1 Table 2 Table 3 Table 4 K L TP K L TP K L TP K L TP 1 2 10 1 2 10 1 2 10 1 2 10 2 4 30 2 4 20 2 4 18 2 4 50 4 8 100 4 8 40 4 8 35 4 8 200 The correct option is —
Answer & Explanation:
Correct Answer: Option (C)
Correct answer: (C) Table 3.
Topics: Business Economics
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