Law Of Diminishing Returns Jamb Economics Past Questions
Question 1
Which of the following factors is not a cause of diminishing returns?
- A. Increase in variable inputs
- B. Land fragmentation
- C. Constant technology
- D. Technological innovations
Question 2
The diagram below represents a production function. At which of the points does diminishing returns set in__________
- A. R
- B. S
- C. T
- D. V
Question 3
The table illustrates the law of diminishing returns on a farm. Which pair of the following answers is appropriate for the missing information in the spaces market X and Y?
- A. X = 20, Y = 6
- B. X = 38, Y =9
- C. X = 46, Y = 9
- D. X = 46, Y = 14
- E. X = 10, Y = 10
Question 4
Labour productivity is the ratio of?
- A. labour to output
- B. man-hours to output
- C. output to man-hours
- D. average product to man-hours
Question 5
The major determinant of the total volume of output in an economy is the?
- A. level of wholesale prices
- B. size of the labour force
- C. level of total expenditure
- D. composition of consumer spending
