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Alexandre Ferry

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3y ago

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Why law of diminishing returns is considered a short-run phenomenon?

why law of diminishing returns is considered a short-run phenomenon?


What offsets the law diminishing returns?

technical innovation


Who is responsible for the law diminishing returns?

Thomas Malthus


Why isoquants convex to the origin?

law of diminishing returns


Who is responsible for law of diminishing returns?

Thomas Malthus


Who is responsible for the law of diminishing returns?

Thomas Malthus


The importance of the law of diminishing returns?

The law of diminishing returns helps managers maximize their profits. At the point where their costs begin to rise, they can switch to another product to make more money.


What is the law of diminishing returns?

the law of diminishing returns states that as a set of variable factors is added to a set of fixed factor, the marginal product and average product will first increase then eventually decrease


What the cause of the diminishing returns law?

will the significance of the law of diminishing returns is that this determines the range of the products that is been produced if it is marketable.


Who is responisble for the law of diminishing returns?

An economist by the name of Turgot was responsible for the law of diminishing returns. Thomas Malthus and David Ricardo also had an influence of this principle which evolved from agriculture and food production.


Why does low of diminishing operate?

Get the question right. Then you might get a sensible answer. Do you mean "Law of Diminishing Returns"? To answer this you need to state the context.


When was the law of diminishing returns propounded?

It was propounded in 1772-1823 by David Ricardo.

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