[amp_mcq option1=”Robbins” option2=”Stiggler” option3=”Marshall” option4=”None of these” correct=”option3″]
The correct answer is: C. Marshall.
The law of production states that in the short run, there is a limit to the amount of output that can be produced with a given amount of inputs. This is because some inputs, such as capital, are fixed in the short run. As a result, increasing the amount of labor input will eventually lead to diminishing returns.
Robbins was an English economist who is best known for his work on marginal utility. Stigler was an American economist who is best known for his work on industrial organization. None of these economists developed the law of production.