If the amount of carbon dioxide or sunlight increases will the rate of photosynthesis increase

This statement is true.

CO 2 concentration directly affects the rate of the photosynthesis reaction  and it will reach a point where a factor can't influence photosynthesis

➷ Yes, when both of these are increased, the rate of photosynthesis will increase until a certain point. At that point, the rate of photosynthesis would just remain constant.

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