Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 14, 2024

Please come up with an example(excluding pizza production, farming and studying) that illustrates the law of diminishing marginal returns, and explain how it does so.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

Managerial Economics Foundations of Business Analysis and Strategy

Authors: Christopher Thomas, S. Charles Maurice

12th edition

1260004759, 9781260004755, 78021715, 78021718, 78021901, 978-0078021909

More Books

Students also viewed these Economics questions

Question

★★★★★

The American textile industry has moved much of its operations offshore in the pursuit of lower labor costs. Over the past 50 years, textile imports have risen from 2% of all textile production to...

Answered: 1 week ago

Question

★★★★★

23. Show that there exists a unique vector x ~ 0 such that Ax g, where?

Answered: 1 week ago

Question

★★★★★

Consider a single-server exponential system in which ordinary customers arrive at a rate and have service rate . In addition, there is a special customer who has a service rate 1. Whenever this...

Answered: 1 week ago

Question

★★★★★

In the month of June, Paula's Beauty Salon gave 3,500 haircuts, shampoos, and permanents at an average price of $30. During the month, fixed costs were $16,800 and variable costs were 80% of sales....

Answered: 1 week ago

Question

★★★★★

High Desert Potteryworks makes a variety of pottery products that it sells to retailers. The company uses a job-order costing system in which departmental predetermined overhead rates are used to...

Answered: 1 week ago

Question

★★★★★

What would a more comprehensive CSR plan for Host Europe look like? What kind of measures, and tracking could be introduced, without putting Host Europe's economic success at risk?

Answered: 1 week ago

Question

★★★★★

Given the evolving nature of cyber threats, how do you ensure that your knowledge stays current? In a rapidly changing digital landscape, staying informed about the latest cybersecurity trends is...

Answered: 1 week ago

Question

★★★★★

The student performed a specific heat capacity measurement of the same unknown fluid sample using the DSC and followed the Three-Run Method. They performed the heat flow calibration prior to their...

Answered: 1 week ago

Question

★★★★★

Excel caculation on cascade mental health clinic

Answered: 1 week ago

Question

★★★★★

Linear Approximation and Differentials: (1 point) Estimate Af using the Linear Approximation and use a calculator to compute both the e f(x) = 3+x. Af a = 1. Ax=1 With these calculations, we have...

Answered: 1 week ago

Question

★★★★★

A business should invest in information security to protect their sensitive data, and maintain customer trust, and also because of information security the business avoids financial losses due to...

Answered: 1 week ago

Question

★★★★★

Identifies and implements three other methods to obtain emerging and/or updated compliance information.Safe cooking of High-risk food, work health and safety policy and procedures, diversity policy,...

Answered: 1 week ago

Question

★★★★★

9. Imagine giving a talk to an assembly that is critical of you. Imagine a large aggressive dog that is your friend and facing the assembly. Imagine further that you are on a mountain top and the...

Answered: 1 week ago

Question

★★★★★

8. Now spend two to three hours walking around listening to what people are saying. Place yourself in a place where you can hear what people are saying clearly and distinctly, for example in a cafe,...

Answered: 1 week ago

Question

★★★★★

5. Think through your own way of representing the world. What is your main pattern: Visually, verbally, emotions, smells, tastes?

Answered: 1 week ago

Previous Question Next Question