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      Question

      Law of diminishing returns only applies to

      cases where
      A There is increasing scarcity of factors of production Correct Answer Incorrect Answer
      B The price of extra units of a factor is increasing Correct Answer Incorrect Answer
      C There is atleast one fixed factor of production Correct Answer Incorrect Answer
      D Capital is a variable input Correct Answer Incorrect Answer

      Solution

      Law of diminishing returns only applies to cases where there is atleast one fixed factor of production.

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