Explain about the diminishing returns to an input, Macroeconomics

Assignment Help:

Explain about the diminishing returns to an input.

There are diminishing returns to an input while an increase within the quantity of which input, holding the levels of each of other inputs fixed, leads to a decline within the marginal product of such input.

965_Marginal Product of Labor Curve.png

Marginal Product of Labor Curve

145_Total Product, Marginal Product, and the Fixed Input.png

Total Product, Marginal Product, and the Fixed Input

1644_Total Cost Curve for George and Marthas Farm.png

Total Cost Curve for George and Martha’s Farm


Related Discussions:- Explain about the diminishing returns to an input

Theory of aggregate demand, unplandned change in inventory are coutned as i...

unplandned change in inventory are coutned as investment spending by firms

External Economies of Scale, Why might external economies of scale be of in...

Why might external economies of scale be of interest to developing countries?

Mathematical presentation of indifference curve, Mathematical Presentation:...

Mathematical Presentation: Consider the utility function U = U(x 1 , x 2 ). Differentiating totally, we get the following: dU = U 1 dx 1 + U 2 dx 2 = 0 (as along the indiffe

Total firm''s cost schedules to calculate, Use the following data on a firm...

Use the following data on a firm's total cost schedules to calculate its average variable cost, average fixed cost, average total cost, and marginal cost schedules. Output Total

Determine the appropriate interval-hypotheses , 1. Practice identification...

1. Practice identification of proper analysis type (1-Sample Z, 1-Sample t, 2-Sample t, Paired t, etc). 2. Practice hypothesis testing. 3. Practice interpretation of sta

Calculate variable unit costs and total annual costs, How do you calculate ...

How do you calculate variable unit costs and total annual costs? Ans) Annual units sold, 1000. Raw materials yearly cost 650. Building rent yearly cost 9000. If sales volume enh

MONETARY POLICY, What are the instruments of monetary policies

What are the instruments of monetary policies

Aggregate demand and aggregate supply, Find one or more articles in the wal...

Find one or more articles in the wall street Journal or other business publications that describe changes in fiscal or monetary policies in the United States. Discuss how these pol

Determine the rate of economic growth , Determine the rate of economic grow...

Determine the rate of economic growth in UK With regard to economic growth, a good starting point for evaluation and analysis is the fact that rate of economic growth in UK has

Action result in a deadweight loss, The short-run supply of a certain crop ...

The short-run supply of a certain crop is perfectly inelastic, because it has already been harvested and no more of it can be grown until the next growing season. In order to raise

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd