Question
Need help completing the paragraph below: Describe a situation in which you experienced the law of diminishing marginal returns. How did this affect you? To
Need help completing the paragraph below: Describe a situation in which you experienced the law of diminishing marginal returns. How did this affect you?
To Increase farm produce, I needed to add extra fertilizer to the farmland, and with this, the harvest was increased. However, with the next fertilizer application in the next season, there was a slight improvement in the output. With the continuous application of fertilizer, the soil becomes more acidic, thus reducing productivity. This affected me so that the cost of production was increased, and with just a minor Increase in output, profits reduced compared to the previous season.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started