Which of the following statements is incorrect? a. Isocost lines depict different combinations of factors of production, that give the same cost. b. Law of diminishing average pr... Which of the following statements is incorrect? a. Isocost lines depict different combinations of factors of production, that give the same cost. b. Law of diminishing average product of labour implies when land is fixed, average output cannot increase with each additional farmer working the land. c. According to the Malthusian model, sustained increase in income per capita is not attainable. d. Britain has experienced rapid growth in the living standards and population since the Industrial Revolution.
Understand the Problem
The question is asking which of the provided statements about economics is incorrect. It presents four options related to concepts such as isocost lines, the law of diminishing returns, the Malthusian model, and historical population growth in Britain.
Answer
c
The final answer is c. According to the Malthusian model, sustained increase in income per capita is not attainable. This statement is a correct depiction of the Malthusian model, which is known for suggesting population growth will consume all resources, preventing long-term income per capita growth. Therefore, it is false to claim this view is incorrect.
Answer for screen readers
The final answer is c. According to the Malthusian model, sustained increase in income per capita is not attainable. This statement is a correct depiction of the Malthusian model, which is known for suggesting population growth will consume all resources, preventing long-term income per capita growth. Therefore, it is false to claim this view is incorrect.
More Information
The Malthusian model is an economic theory that suggests that population growth tends to outpace agricultural production, leading to cycles of growth and stagnation without sustained increases in per capita income.
Tips
A common mistake is misunderstanding the implications of the Malthusian model. It predicts potential stagnation due to resource limits, not perpetual growth.
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