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The law of diminishing marginal product states that as a firm uses more of a variable resource with a fixed resource and fixed technology, the marginal product of the variable resource will fall. From related site.
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∙ 16y ago
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∙ 13y agoAn example of it is, when you know the notes to sing. You can sing most anything! Together!
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What is diminishing marginal productivity explain with example?
the law diminishinf mean fixed cost and variable cost
How does the law of diminishing marginal productivity affect the cost of productions?
When marginal productivity is diminished, the cost of productions can decrease if the marginal costs for making an extra product is larger than the marginal revenue for that 1 extra unit product.
Criticism of law of diminishing marginal utility?
the criticisma of the law of diminishing marginal utility
Example of law of diminishing marginal utility?
the more you have of an item the less you want
Why does the marginal rate of substitution diminish?
As a matter of fact, law of diminishing marginal rate of substitution conforms to the law of diminishing marginal utility. According to law of diminishing marginal utility, as a consumer increases the consumption of a good, its marginal utility goes on diminishing. On the contrary, if the consumption of a good decreases, its marginal utility goes on increasing.
What is diminishing marginal productivity explain with example?
the law diminishinf mean fixed cost and variable cost
How does the law of diminishing marginal productivity affect the cost of productions?
When marginal productivity is diminished, the cost of productions can decrease if the marginal costs for making an extra product is larger than the marginal revenue for that 1 extra unit product.
Criticism of law of diminishing marginal utility?
the criticisma of the law of diminishing marginal utility
Example of law of diminishing marginal utility?
the more you have of an item the less you want
Why does the marginal rate of substitution diminish?
As a matter of fact, law of diminishing marginal rate of substitution conforms to the law of diminishing marginal utility. According to law of diminishing marginal utility, as a consumer increases the consumption of a good, its marginal utility goes on diminishing. On the contrary, if the consumption of a good decreases, its marginal utility goes on increasing.
Explain the merits and demerits of law of diminishing marginal utility?
explain the demerits of diminishing marginal utility
How does an individual or household benefit from the law of diminishing marginal utility?
what is it marginal utility
When you experience less satisfaction from eating the fourth slice of pizza than you did the first it is an example of?
The law of diminishing marginal utility
Does the law of diminishing marginal utility apply in love issues?
yes
Law of diminishing marginal rate of substitution?
Marginal rate of substitution tends to decrease with passage of units consumptions.
Who gave the concept of law of diminishing marginal utility?
It is William Stanley Jevons
What are the Limitation to Law of diminishing marginal utility?
http://wiki.answers.com/Q/What_are_the_Limitation_to_Law_of_diminishing_marginal_utility"
