--%>
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 : Illustrate when Price is greater than

    Suppose that price is greater than average variable cost. When a perfectly competitive seller is producing at an output therefore price is $11 and the marginal cost is $14.54, in that case to maximize profits the firm must: w) continu

    		•
  • Q : Illustrates marginal cost pricing and

    Illustrates the marginal cost pricing and differential pricing?

    		•
  • Q : More Labor productivity American

    American workers tend to be more productive than counterparts of their in South America or Asia into part since they have: (1) superior natural genetic endowments. (2) access to better sports programming, that promotes teamwork. (3) more capital to work with, and supe

    		•
  • Q : Investment in Human Capital An

    An investment in human capital is most obviously illustrated while: (1) Biff Biceps lifts weights before going to the beach to surf. (2) Cary Coffee drinks four cups of latte before going to work. (3) Pollyanna reads Harlequin Romance novels within he

    		•
  • Q : Wage Rates and Opportunity Costs

    Reasons why workers are often paid more than they could make in their best alternative positions do not include: (1) human capital valued by many firms. (2) membership in a union along with a labor contract. (3) holding a minimum wage job when most unskilled workers a

    		•
  • Q : Trade types of cycle distinguished by

    What are the trade types of cycle distinguished by Schumpeter?

    		•
  • Q : Illustrates the important leading

    Illustrates the important leading indices?

    		•
  • Q : Managerial Economics according to

    Illustrates the managerial Economics according to Spencer and Siegleman?

    		•
  • Q : Prevent cheating among members by

    A cartel tends to be more successful mainly while this can stop: (1) cheating between its members. (2) increases in the demand for its product. (3) joint profit maximization. (4) international trade. (5) an increase in the price of its product. <

    		•
  • Q : Defined the simple way for production

    Defined the simple way for production function?

    		•