Land is subject to ________ returns. (increasing / constant / diminishing / negative), Fill in the blank with appropriate alternative given in the bracket.
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Increasing
Land is subject to increasing returns .
Land is subject to increasing returns .
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Answer:
diminishing
Explanation:
Land is subject to diminishing returns.
Land is considered a primary production factor as it is used in all manufacturing types. It promotes manufacturing and in the process does not alter itself. It therefore functions as a basis in the manufacturing process.
However, since land is a production factor, the total output increases when more and more units of labor and capital are applied to soil, but only at a declining pace.
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