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Explain how the diminishing returns influences the shape of the variable cost and total cost curves?
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What is the principle of diminishing marginal returns?
Output increases at a diminishing rate as more variable inputs are added.
Why law of diminishing returns is considered a short-run phenomenon?
why law of diminishing returns is considered a short-run phenomenon?
What is the significance of the law of diminishing returns?
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.
What is the law of variable proportion in economics?
Sometimes referred to as variable factor proportions, law of diminishing returns states that as equal quantities of one variable factor are increased, while other factor inputs remain constant, ceteris paribus, a point is reached beyond which the addition of one more unit of the variable factor will result in a diminishing rate of return and the marginal physical product will fall.
What are the stages of production of a firm?
a]increasing marginal returns b]diminishing returns c]negative returns
What is the principle of diminishing marginal returns?
Output increases at a diminishing rate as more variable inputs are added.
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
In the law of diminishing returns which factor causes productivity to drop after a certain point?
adding more variable inputs
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.
What effect does the law if diminishing returns have on total variable cost?
Solve log7 (X+1) + log7 (x-5)=1
Why law of diminishing returns is considered a short-run phenomenon?
why law of diminishing returns is considered a short-run phenomenon?
What is the significance of the law of diminishing returns?
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.
What war the 3 stages of production?
Three stages of production are increasing marginal returns, diminishing marginal returns, and negative marginal returns.
Are there diminishing returns to risk taking?
No. Fundemantaly returns increase with risk, they do not diminish.
When does the law of diminishing returns set in?
The law of diminishing returns sets in when profit and loss begin to become closer. The return becomes smaller and smaller.
What is return to variable factors?
It is the same as Law of Diminishing Returns. Which is the postulate that as more units of a variable resource are combined with a fixed amount of other resources, using additional units of the variable resource will eventually increase profit only at a decreasing rate.
What are the stages of production of a firm?
a]increasing marginal returns b]diminishing returns c]negative returns
