1
answer
201
views
37
Problem

For access to Textbook Solutions, a Class+ or Grade+ subscription is required.

Textbook Expert
Textbook ExpertVerified Tutor
29 Oct 2021

Introduction

In economics, the concept of the diminishing returns describes how the decrease in the marginal output effects the production process. It refers to the the situation when any optimal level of capacity is reached, any further addition in the factor of prouction only produces a smaller increase in output.

Unlock all Textbook Solutions

Already have an account? Log in
Start filling in the gaps now
Log in