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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 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 war the 3 stages of production?
Three stages of production are increasing marginal returns, diminishing marginal returns, and negative marginal returns.
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 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 war the 3 stages of production?
Three stages of production are increasing marginal returns, diminishing marginal returns, and negative marginal returns.
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.
Are there diminishing returns to risk taking?
No. Fundemantaly returns increase with risk, they do not diminish.
What are the stages of production of a firm?
a]increasing marginal returns b]diminishing returns c]negative returns
Definition of overexploitation?
Exploitation to the point of diminishing returns.
What is increasing input with reduced output?
Diminishing returns.
Why isoquants convex to the origin?
law of diminishing returns
Who is responsible for law of diminishing returns?
Thomas Malthus
