A-LevelEconomicsThe price system and the microeconomy9708/31 · Oct/Nov 2017 · Q41 Mark
Which statement describes the operation of the law of variable proportions?
- A As all factors are increased in proportion, the marginal cost of production increases. B As all factors are increased in proportion, total product rises at a diminishing rate. C As more of a variable factor is added to a fixed factor, the marginal cost of production diminishes. D As more of a variable factor is added to a fixed factor, total product rises at a diminishing rate.[1]
Mark scheme
Marking points from the official mark scheme (Oct/Nov 2017). The mark or mark type is shown in brackets.
- [1] D
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