--%>
Assignment Help - homework help

Explain the assumptions of Law Diminishing Returns

Explain the assumptions of Law Diminishing Returns.

E

Expert

Verified

The Law of Diminishing Returns is based upon the given assumptions as follows:

Returns are based upon the given assumptions as illustrated:

a. The production technology keeps unchanged

b. Each variable factor is homogeneous.

c. Some one factor is constant

d. The fixed factor keeps constant.

   Related Questions in Managerial Economics

  • Q : Example of an investment in human

    A government-supported literacy program provided from a firm which primarily employs unskilled labor is an illustration of an investment in: (1) human capital depreciation. (2) business paternalism. (3) specific training. (4) laissez-faire economics.

    		•
  • Q : Opportunity cost of good Since an

    Since an economy moves downward all along the production possibility frontier which is concave from beneath, the: (1) Opportunity cost of the good whose production goes increasing. (2) Law of rising returns outcomes ever lower costs. (3) Dollar value

    		•
  • Q : Difference between economics and

    What is the difference between economics and managerial Economic?

    		•
  • Q : Explain about the control of business

    Explain about the control of business cycle.

    		•
  • Q : Equilibrium prices and quantities

    French toast and pancakes and both are close substitutes. Assume that good weather yields a bumper crop of pancakes and decreases the price of pancakes. Into the market for French toast: (1) equilibrium price and quantity both increase.(2) competition increases the su

    		•
  • Q : Earning price in Human capital As per

    As per shown in this graph, the average high school graduate will earn around: (1) $12,000 yearly. (2) $20,000 yearly. (3) $45,000 yearly. (4) $90,000 yearly. (5) $100,000 yearly.

    Q : Market equlibrium challenges of

    challenges of Equilibrium picing in devloping countries

    		•
  • Q : Significant causes giving birth to

    What are the significant causes of business cycle to give birth?

    		•
  • Q : Determine market supply of labor The

    The market supply of labor is the sum of the: (1) quantities of labor supplied by households at each wage. (2) wages paid to households for each quantity supplied. (3) quantities demanded by firms at each wage. (4) marginal products of labor at each l

    		•
  • Q : Illustrates the internal economies of

    Illustrates the internal economies of scale?

    		•