alleryStart learning →Classical economists like Malthus blamed diminishing output on what?
AFalling market demand
BRising tax burdens
CPoorer quality of inputs
DExcess capital stock
Answer & Solution
Correct answer: C. Poorer quality of inputs
Classical writers saw successive units of input as poorer, while neoclassicals treat labour units as identical.
Keep practising Theory of Production
Browse all Theory of Production questions for CA Foundation, or explore more Business Economics topics.
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?