What are diminishing marginal products?
It can also be known as the law of diminishing marginal product or the law of diminishing marginal return. The law of diminishing marginal productivity suggests that managers find a marginally diminishing rate of production return per unit produced after making advantageous adjustments to inputs driving production.
Can you give some examples of exception to the law of diminishing marginal utility?
Exceptions of Diminishing Marginal Utility. Since the marginal utility of money goes on increasing as the person gets or spends more and more of it. Rare or Antique Collection: The law of diminishing marginal utility is inapplicable in case of rare collectables such as paintings, antiques, old coins, stamps, etc.
How can the law of diminishing returns be explained with a real life example?
A Farmer Example of Diminishing Returns He is still deciding on how much fertilizer to use. As he increases the amount of fertilizer, the output of corn will increase. It may also reach a point where the output actually begins to decrease since too much fertilizer can become poisonous.
What is the other name for diminishing returns?
Find another word for diminishing-returns. In this page you can discover 3 synonyms, antonyms, idiomatic expressions, and related words for diminishing-returns, like: going belly up, losings and losses.
Is it possible to avoid diminishing marginal return Why?
No, it is not possible to avoid the law of diminishing marginal returns.
What is the relationship between marginal cost and marginal product?
While marginal product concerns changes in output, marginal cost is a representation of the costs incurred when additional units of a product are produced.
What is the opposite of diminishing returns?
The law of increasing returns is the opposite of the law of decreasing returns. Where the law of diminishing returns operates, every additional investment of capital and labour yields less than proportionate returns. But, in the case of the law of increasing returns, the return is more than proportionate.
What is the opposite meaning of diminish?
diminish. Antonyms: increase, enlarge, expand, extend, amplify, magnify. Synonyms: lessen, reduce, contract, curtail, dwarf, decrease, subside, shorten, abate, retrench.