Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
The Law for Diminishing Marginal Returns
- As use of an input increases in equal increments, a point will be approched at which the resulting additions to output decreases (that is MP declines).
- When labor input is small, MP increases because of specialization.
- When labor input is large, MP decreases because of inefficiencies.
* The Law of Diminishing Marginal Returns
- Can be used for the long run decisions to assess tradeoffs of different plant configurations
- Assumes that the quality of variable input is constant
- Explains declining MP, not essentially a negative one
- Assumes a constant technology
RECENT DEVELOPMENT IN DEMAND ANALYSIS: For many years economic theorists analysed the optimal behaviour of consumers while econometricians estimated consumer demand and expend
Problem : "The beliefs that free trade favors only the rich countries and that volatile capital markets hurt developing countries the most have led activists of many stripes
how slustky equation provides neat analytical expression for substitution and income effect?
Ask queBrenda owns a construction company that employs bricklayers and other skilled tradesmen. Her firm''s MRP for bricklayers is $22.25 per hour for each of the first seven brick
How might a country exchange rate influence the balance of payments? Definition of the exchange rate; price of domestic currency in another (basket of) currency (currencies). C
Assume that the U.S. Department of Agriculture (USDA) administers the price floor for cheese, set at $0.17 per pound of cheese. (The price floor is formally set at $16.10 per hundr
how to write an overall introduction about gdp?
WHAT ARE ROLE AND ASUMPTIONS OF ECONOMIC THEORIES
Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4
Solve equation P=200-Qs and Qs=4.5p +5
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd