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प्रश्न
Statement 1: A rational firm aims to operate in the second phase of the law of variable proportion.
Statement 2: In diminishing returns to a factor, i.e., the second phase of the law of variable proportion, MP falls.
पर्याय
Both the statements are true.
Both the statements are false.
Statement 1 is true but statement 2 is false.
Statement 1 is false but statement 2 is true.
MCQ
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उत्तर
Both the statements are true.
Explanation:
A rational firm strives to operate in the second phase of the law of variable proportion, which is decreasing returns to a factor because in this phase, the total product reaches its maximum and the marginal product begins to fall but remains positive.
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