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.
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.
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