Difference between revisions of "Diminishing returns"
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(Removed redirect and will write this article soon - "diminishing returns" and "decreasing returns to scale" are completely separate concepts) |
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| − | + | In economics, the principle of '''diminishing returns to input''' posits that, [[''ceteris paribus'']], an increase in the quantity of a given [[input]] applied to the [[production]] of a good or service will ultimately yield less and less [[marginal product]] over time. | |
Revision as of 23:33, March 9, 2009
In economics, the principle of diminishing returns to input posits that, ''ceteris paribus'', an increase in the quantity of a given input applied to the production of a good or service will ultimately yield less and less marginal product over time.