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Earn +20 ptsQ: Example of the law of diminishing marginal productivity?
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What is diminishing marginal productivity explain with example?
the law diminishinf mean fixed cost and variable cost
Criticism of law of diminishing marginal utility?
the criticisma of the law of diminishing marginal utility
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.
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.
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