Giving reasons, state whether the following statements are true or false : (i) When there are diminishing returns to a factor, total product always de
Giving reasons, state whether the following statements are true or false :
(i) When there are diminishing returns to a factor, total product always decreases.
(ii) Total product will increase only when marginal product increases.
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(i) False. Total production decreases only when negative returns operate.
(ii) False. Total product increases upto the point where MP is positive.
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