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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.
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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.
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
Example of the law of diminishing marginal productivity?
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.
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.
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.
What is diminishing marginal productivity explain with example?
the law diminishinf mean fixed cost and variable cost
Example of the law of diminishing marginal productivity?
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.
Criticism of law of diminishing marginal utility?
the criticisma of the law of diminishing marginal utility
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
What is the difference between equi-marginal utility and 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
Causes of increasing and diminishing returns?
Each additional worker has less and less tools and equipments to work with consequently , the productivity of marginal worker eventually decreases
What war the 3 stages of production?
Three stages of production are increasing marginal returns, diminishing marginal returns, and negative marginal returns.
If marginal utility is positive but diminishing then?
Total utility increases at a diminishing rate
How does an individual or household benefit from the law of diminishing marginal utility?
what is it marginal utility
What is a sentence with marginal utility?
The expected marginal utility of the next unit of water is diminishing.
