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Diminishing marginal product of capital is an economic principle that refers to the concept that when the input is increased and the other inputs are kept at the same level than it may initially increase output. However, if the inputs continue to increase with no other changes there may be limited effect or eventually negative effect on the output.
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Explain difference between total and marginal utility. Define UTILITY. How do consumers maximize UTILITY?
explain the difference between total utility and marginal utility
Define the Law of Diminishing Returns?
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.
Define and explain the four factors of production landlaborphysical capitalhuman capital?
Define factor of production land ,labour,physical capital ,human capital?
Define total product?
It is a product that is total
Define the marginal production theory?
if the situation of perfect competition prevails in the economy then reward to each factor will equal to its productivity
Explain difference between total and marginal utility. Define UTILITY. How do consumers maximize UTILITY?
explain the difference between total utility and marginal utility
Define and explain the four factors of production landlaborphysical capitalhuman capital?
Define factor of production land ,labour,physical capital ,human capital?
Define the Law of Diminishing Returns?
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.
Define total product?
It is a product that is total
What is difference between gross domestic product and per capita in Norway?
Gross domestic product can be define as a system of checking difference country product in any given period of a year. while per capital a methods to check induvidual product per year.
Define the term marginal stability?
Marginal Stable is nothing but neutrally stable it means that the object will come back to original state even the external forces are acting on it but in different position.
Define product disparagement?
Product disparagement involves discrediting a competitor's product.
Define the marginal production theory?
if the situation of perfect competition prevails in the economy then reward to each factor will equal to its productivity
Define potential product?
A potential product refers to what a product could have been or would be in future.
Where is the world's highest capital?
define what you mean by "Highest"
Define marketing distinguish product marketing and services markrting with suitable example?
Define Marketing. Distinguish product marketing and services marketing with suitable examples
Which is the product of 6?
A "product" is a binary operator. That means, you need two numbers (or variables) before you can define their product.
