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Question

The "law of diminishing returns" applies to _________________.

A
short run, but not long run
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B
long run, but not short run
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C
both short run and long run
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D
neither short run nor long run
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Solution

The correct option is A short run, but not long run
The "Law of diminishing returns" is a part of law of variable proportion which applies to the short run, but not the long run.

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