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Define diminishing return of factor

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Define diminishing return of factor
  • 2 answers

Jigyasa Garg 3 years, 7 months ago

diminishing returns is the decrease in marginal (incremental) output of a production process as the amount of a single factor of production is incrementally increased, holding all other factors of production equal (ceteris paribus).

Kavya Chanana 3 years, 7 months ago

Diminishing return of factor refer to phrase in which total product increase at decreasing rate and marginal product fall
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