alleryStart learning →In which industry did the law of diminishing returns mainly originate?
ABanking
BShipping
CTextiles
DAgriculture
Answer & Solution
Correct answer: D. Agriculture
It was first developed by observing wheat, corn and land quality in agriculture.
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Related questions
With fixed unit input costs, isocost curves have which shape?Widening gaps between isoquants of equal output steps indicate what?Under declining MRTS, an isoquant is what relative to the origin?A line joining tangency points of isoquants and isocosts is called what?At least cost, the ratio of marginal products equals which ratio?The cost-minimising input mix is at tangency of isoquant and which line?With perfect complements, inputs can be combined efficiently only how?If two inputs are perfect substitutes, how does X replace Y?