Question
Which law of Economics states that the profit from a
limited amount of variable input is maximized when that input is used in such a way that marginal return from that input is equal in all the enterprises?Solution
Law of Equimarginal returns states that the profit from a limited amount of variable input is maximized when that input is used in such a way that marginal return from that input is equal in all the enterprises. This law is concerned with the allocation of the limited amount of resource among different enterprises.
Toxins present in Rape seed and Mustard oil is
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The arrangement where farmers enter formal agreements with input suppliers or agribusinesses to produce certain crops or livestock under specified condi...
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