What does \"diminishing returns\" to an input mean by economists? What causes diminishing returns? How can...

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Economics

What does \"diminishing returns\" to an input mean by economists?What causes diminishing returns? How can this principle be observedat a job workplace? Describe this concept in the real world.

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As per economists diminishing returns to information is decreased in output for an extra unit of input So in certifiable let us take a retail counseling firm that works on pushing retailers to reduce cost In the event that the counseling firm includes an additional advisor without the option of any new activities the cost would expand prompting diminished returns The other illustration can be seen in a farming generation action where See Answer

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What does \"diminishing returns\" to an input mean by economists? What causes diminishing returns? How can...

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Verified Solution

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Economics

What does \"diminishing returns\" to an input mean by economists?What causes diminishing returns? How can this principle be observedat a job workplace? Describe this concept in the real world.

Answer & Explanation Solved by verified expert

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