What it comes down to is too many workers, not enough resources for them all to use at the same time to be productive, thus resulting in the decline of production.
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.
the law diminishinf mean fixed cost and variable cost
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.
the criticisma of the law of diminishing marginal utility
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.
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.
the law diminishinf mean fixed cost and variable cost
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.
the criticisma of the law of diminishing marginal utility
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 demerits of diminishing marginal utility
What is the difference between equi-marginal utility and diminishing marginal utility?Read more:What_is_the_difference_between_equi-marginal_utility_and_diminishing_marginal_utility
Each additional worker has less and less tools and equipments to work with consequently , the productivity of marginal worker eventually decreases
Three stages of production are increasing marginal returns, diminishing marginal returns, and negative marginal returns.
Total utility increases at a diminishing rate
what is it marginal utility
The expected marginal utility of the next unit of water is diminishing.