Law of diminishing returns to scale holds true in the
Answers
Answered by
0
Heya user ✌️✌️
Law of diminishing marginal utility state that as more and more unit of a commodity are consumed ,marginal utility derived from every additional unit must decline .
▶️It happens in respect of all goods and services .
ASSUMPTION ⬇️⬇️
➡️ Only standard unit of the commodity are consumed .
➡️ Consumption of the commodity is continuous .Not that one unit of the commodity is consumed now and the other tomorrow.
Law of diminishing marginal utility state that as more and more unit of a commodity are consumed ,marginal utility derived from every additional unit must decline .
▶️It happens in respect of all goods and services .
ASSUMPTION ⬇️⬇️
➡️ Only standard unit of the commodity are consumed .
➡️ Consumption of the commodity is continuous .Not that one unit of the commodity is consumed now and the other tomorrow.
Answered by
0
The law of diminishing returns, also referred to as the law of diminishingmarginal returns, states that in a production process, as one input variable is increased, there will be a point at which the marginal per unit output will start to decrease, holding all other factors constant.............
Similar questions