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What will happen if you overuse a factor of production according to the law of diminishing returns?
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∙ 9y ago
It will not be as efficient as before. A+
Molly Breitenberg
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According to the law of diminishing returns what will happen if you overuse a factor of production?
It will not be as efficient as before. A+
What war the 3 stages of production?
Three stages of production are increasing marginal returns, diminishing marginal returns, and negative marginal returns.
What are the stages of production of a firm?
a]increasing marginal returns b]diminishing returns c]negative returns
What is a level of production in which the marginal production decrease with new investment?
diminishing marginal returns
What are deminishing returns?
Diminishing returns mean that as you put more and more into production, the less output you get out of each additional input.
According to the law of diminishing returns what will happen if you overuse a factor of production?
It will not be as efficient as before. A+
What war the 3 stages of production?
Three stages of production are increasing marginal returns, diminishing marginal returns, and negative marginal returns.
What are the stages of production of a firm?
a]increasing marginal returns b]diminishing returns c]negative returns
What is a level of production in which the marginal production decreases with new investment?
diminishing marginal returns
What is a level of production in which the marginal production decrease with new investment?
diminishing marginal returns
What are returns?
Diminishing returns mean that as you put more and more into production, the less output you get out of each additional input.
What are deminishing returns?
Diminishing returns mean that as you put more and more into production, the less output you get out of each additional input.
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 is A nation's production possibilities curve is bowed out from the origin?
When there are diminishing marginal returns to factors of production, the PPF is "bowed out" from the origin.
Why is the production possibility curve bowed out from the origin of the curve?
Diminishing Marginal returns to capital and labor.
Why can production take place on or inside the frontier?
This is known as the law of diminishing returns and can occur because factor on the frontier is deemed to be production efficient and production inside frontier.
What is the best explanation of why the law of diminishing returns does not apply in the long run?
All factors of production are variable in the long run.
