Law of Diminishing Returns

4 April 2015
Examines history & development of this economic theory, examples, refinements, applications.

This research examines the economic law of diminishing returns. Both the development of the concept and the modern refinements to the concept are covered.

Law of Diminishing Returns Essay Example

Defining the Law of Diminishing Returns
The hypothesis underlying the law of diminishing returns is that: if one factor of production is increased by small, constant amounts while all other factor quantities are held constant, then after some point the resulting increases in output become smaller and smaller. Before this point is reached output may increase by either constant amounts or by increasing amounts. The as…

A limited
time offer!
Save Time On Research and Writing. Hire a Professional to Get Your 100% Plagiarism Free Paper