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the characteristic of any production system in which increases in variable inputs result in increasing reduction of total output. An indicator of when to stop making additional inputs to the system, when the input exceeds the additional output.

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15y ago
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10y ago

In economics, diminishing returns (also called diminishing marginal returns) is the decrease in the marginal (per-unit) output of a production process as the amount of a single factor of production is increased, while the amounts of all other factors of production stay constant.

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11y ago

this principle states that for any athletes gains in fitness are more rapid early in a program,and later gains are more difficult to achieve

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13y ago

If there are fixed units, increased use of variable input will continue to increase production at a decreasing rate because of congested us of the fixed inputs.

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13y ago

Output increases at a diminishing rate as more variable inputs are added.

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Q: Define the Law of Diminishing Returns?
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Related questions

Why law of diminishing returns is considered a short-run phenomenon?

why law of diminishing returns is considered a short-run phenomenon?


Who is responsible for the law diminishing returns?

Thomas Malthus


Who is responsible for the law of diminishing returns?

Thomas Malthus


Why isoquants convex to the origin?

law of diminishing returns


What offsets the law diminishing returns?

technical innovation


Who is responsible for law of diminishing returns?

Thomas Malthus


The importance of the law of diminishing returns?

The law of diminishing returns helps managers maximize their profits. At the point where their costs begin to rise, they can switch to another product to make more money.


What is the law of diminishing returns?

the law of diminishing returns states that as a set of variable factors is added to a set of fixed factor, the marginal product and average product will first increase then eventually decrease


Who is responisble for the law of diminishing returns?

An economist by the name of Turgot was responsible for the law of diminishing returns. Thomas Malthus and David Ricardo also had an influence of this principle which evolved from agriculture and food production.


What the cause of the diminishing returns law?

will the significance of the law of diminishing returns is that this determines the range of the products that is been produced if it is marketable.


What offset the law of diminishing returns?

technical innovation


Why does low of diminishing operate?

Get the question right. Then you might get a sensible answer. Do you mean "Law of Diminishing Returns"? To answer this you need to state the context.