What does the law of diminishing returns apply to?
diminishing returns, also called law of diminishing returns or principle of diminishing marginal productivity, economic law stating that if one input in the production of a commodity is increased while all other inputs are held fixed, a point will eventually be reached at which additions of the input yield …
How does the law of diminishing marginal returns apply to studying?
Yes, diminishing marginal returns describe how adding one more of something can actually decrease the overall gain. For example, if one studies in short chunks of time with carefully timed study breaks, one can do well on the test. Studying no more than an hour or even less can be productive.
Why is the law of diminishing returns more applicable in agricultural sector?
But in the field of agriculture and forestry, this law applies more quickly because: i. The quantity of land is fixed and there is no substitute of land. Therefore as the units, labour of capital are increases on a given piece of land the law of diminishing return apply.
Why is the law of diminishing returns also referred to as the law of increasing cost?
It’s also called “the law of increasing costs” because adding one more production unit diminishes the marginal returns and the average cost of production inevitably increases.
What is the difference between law of diminishing returns and law of diminishing marginal utility?
Although the two concepts are related, marginal utility focuses on how much of a product a consumer will use, while the law of diminishing marginal returns focuses on how much of a certain production factor to use when producing that product.
What is diminishing returns in physical education?
The principle of diminishing return suggests that the rate of fitness improvement diminishes over time as fitness approaches its ultimate genetic potential (Figure 5).