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Diminishing Returns, also calledthe law of diminishing returns or principle of diminishing marginal productivity , economic law stating that if one input in the production
Diminishing Returns,also calledthelaw of diminishing returnsorprinciple 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 progressively smaller,or diminishing,increases in output. Can you give an example of a business production process and how the law affects the costs/ marginal productivity?
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