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Line 11: − An easy-to-remember example of this law is a person's decrease in satisfaction from eating more and more french fries.+
Law of diminishing returns (view source)
Revision as of 13:00, December 15, 2008
, 13:00, December 15, 2008no edit summary
* Congestion refers to the phase when additional workers will start to decrease production efficiency because the work environment is fixed in the short-run. This results in returns that are less than the labor input.
* Congestion refers to the phase when additional workers will start to decrease production efficiency because the work environment is fixed in the short-run. This results in returns that are less than the labor input.
From a consumer's standpoint, an easy-to-remember example of this law is a person's decrease in satisfaction from eating more and more french fries.
[[category:economics]]
[[category:economics]]