What is the law of diminishing returns?

The law of diminishing returns is when the marginal output of a production process decreases with every additional increase in a factor of production (or input), holding all other factors of production constant. 

SS
Answered by Shyam S. Economics tutor

3845 Views

See similar Economics A Level tutors

Related Economics A Level answers

All answers ▸

Are taxes an effective way to stop people smoking?


What is the "Tragedy of the Commons" and how may it be solved?


Why there is liquidity trap in the reality?


Discuss the impact that Brexit may upon the UK economy (25 marks)


We're here to help

contact us iconContact ustelephone icon+44 (0) 203 773 6020
Facebook logoInstagram logoLinkedIn logo

MyTutor is part of the IXL family of brands:

© 2025 by IXL Learning