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

Average price-earnings ratio, In a survey of 120 publicly-traded companies,...

In a survey of 120 publicly-traded companies, the average price-earnings ratio was 18.5 with a standard deviation of 8.2. When testing the hypothesis (at the 5% level of significan

Balance of payments, factors that causes the shifts in balance of payments...

factors that causes the shifts in balance of payments

Company undertake the project, Q1. A company selling widgets advertises thr...

Q1. A company selling widgets advertises through three types of media: print, television and internet. Recently the company has decided to increase its advertising budget by $100,0

Functions of commercial bank - granting a loan, Granting a ...

Granting a loan: When commercial banks lend, they create money. This can be explained by extending the hypothetical example of Bank

Theand the protection of property rights, Why is private property, and thea...

Why is private property, and theand the protection of property rights , so critical to the success of the market system ? How do property rights encourage cooperation?

Lm curve with inflation, The LM curve with inflation  We know that LM ...

The LM curve with inflation  We know that LM curve will shift upwards when P increases (presuming MS is constant). This is still true though we can also add that LM curve glid

Explain the multiplier effect with example, Explain the multiplier effect w...

Explain the multiplier effect with example Deposits and loans in banks give rise to an important multiplier effect. We use a simple example to illustrate this effect. Consider

Impact of an increase in thriftiness, Consider the impact of an increase in...

Consider the impact of an increase in thriftiness in the Keynesian-cross analysis. Assume that the marginal propensity to consume is unchanged, but the intercept of the consumption

Explain why interest rates are pro-cyclical, Critically explain why interes...

Critically explain why interest rates are pro-cyclical, using the supply and demand for bonds framework.

Describe short-run equilibrium price-demand, The aim of this task is to exp...

The aim of this task is to explore the effects of a supply shock on a firm and thereby on the industry. Suppose that war breaks out in the Middle East, where a considerable portion

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