What is law of diminishing returns - Definition and Meaning

Law Of Diminishing Returns :

Law of diminishing value states that amount of money spent eventually increases, while the amount of profit gained eventually diminishes, assuming all other variables remains constant.

Example :

Consider a car manufacturing company when the workers in Paint section is increased by keeping the other section members constant , works of paint section will be finished quick and it indirectly reduces the speed of other section(Ex, Assembling section) due to no sufficient workers.
LIFO Law of Identity

Learn what is law of diminishing returns. Also find the definition and meaning for various math words from this math dictionary.

english Calculators and Converters

Ask a Question