If successive units of labour are added to a piece of land while capital and technology remain constant, a point will be reached in the level of production ...

Assessment: JAMB UTME - Economics - 1983 Subject: Economics

Question 1 Report

If successive units of labour are added to a piece of land while capital and technology remain constant, a point will be reached in the level of production when each added unit of labour will added less to the output than previous units of the labour. This concept is known as?

the productivity of labour

the law of diminishing marginal utility

the law diminishing returns

the concept of factor intensity

labour intensive production