What is law of diminishing marginal …
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Yogita Ingle 5 years, 2 months ago
Law of diminishing marginal product or productivity is an economic theory. It proclaims that while increasing one input and maintaining other inputs constant initially helps in increasing the output, a further increase in the input will have a restricted effect and will ultimately have nil consequence or a pessimistic effect on the output.
The Law of Diminishing Marginal Productivity helps in understanding why increased manufacturing isn’t always the best way to increase profitability.
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