diminishing returns, law of
diminishing returns, law of (law of increasing costs) In economics, if more of a variable input, such as labour, is added to the production process, while all other factors are held constant, the addition to total output per unit input begins to decline at some point.
More From encyclopedia.com
Shelfords Law Of Tolerance , Shelfords law of tolerance Boyles Law , Boyles law Liquor Laws , BLUE LAWS
A state or local law that prohibits commercial activities on Sunday.
Blue laws have been part of U.S. legal history since the colonial peri… Sir William Blackstone , Sir William Blackstone
Sir William Blackstone
The famous English jurist Sir William Blackstone (1723-1780) is remembered for his Commentaries on the… statutes , STATUTORY LAW
STATUTORY LAW, as distinguished from constitutional law and the common law, is that body of law laid down by a legislature. Both the U.… By-law , by-law, bye-law
A. local law or custom established by common consent XIII;
B. ordinance regulating internal matters made by a local authority or corp…
About this article
law of diminishing returns
All Sources -
You Might Also Like
NEARBY TERMS
law of diminishing returns