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| law of diminishing marginal returns definitions | |||
|---|---|---|---|
| # | Definition | Sets | |
| 1 | beyond some point the marginal product of labor decreases as as successively more units of labor are employed. | 2 sets | |
| 2 | law that states that if additional units of one resource are added to another resource, in fixed supply, eventually the additional output will decrease | 1 set | |
| 3 | when successibe equal amounts of a variable resource are combined with a fixed amount of another resource, marginal increases in output that can be attributed to each additional unit of the bariable resource will eventually decline | 1 set | |
| 4 | as more units of a resource are added to a fixed resource, eventually the additional (marginal) output associated with the variable resource declines. | 1 set | |
| 5 | if a firm keeps increasing an input, holding all other inputs and technology constant, the corresponding increases in output will become smaller eventually; the marginal product of input will diminish eventually; assumptions: 1. diminishing marginal returns rather than diminishing returns; 3. technology and other inputs held constant | 1 set | |
| 6 | when successive equal amounts of a variable resource are combined with a fixed amount of another resource, marginal increases in output that can be attributed to each additional unit of the variable resource will eventually decline | 1 set | |
| 7 | a law that states that if additional units of one resource are added to another resource in fixed supply, eventually the additional output will decrease | 1 set | |
| 8 | law that states that if additional units of one resource are added to another resource in fixed supply, eventually the additional output will decrease | 1 set | |
| 9 | as additional units of a variable input are employed with a set of fixed inputs eventually the increase in output becomes smaller and smaller | 1 set | |
| 10 | a law that states that if additional units of one resouce are added to another resource in fixed supply, eventually the additional output will decrease | 1 set | |
| 11 | a property of the relationship between the amount of a good or service produced and the amount of a variable factor required to produce it; the law says that when technology and at one factor of production is fixed, beyond some point of marginal product of the variable input diminishes. | 1 set | |
| 12 | when increasing amounts of a variable factor of production are employed in production along with a fixed production factor, after some point the amount produced will diminish. | 1 set | |
| 13 | as successive units of a variable input are added to a fixed input, beyond some point the marginal product declines | 1 set | |
| 14 | increasing the quantity of inputs leads to an eventual decline in marginal product of that input. technology and all inputs are held constant | 1 set | |
| 15 | principle that as the use of an input increases with other inputs fixed, the resulting additions to output will eventually decrease | 1 set | |
| 16 | quantities fixed=marginal product will eventually decline as use is increased | 1 set | |
| 17 | a property of the relationship between the amount of a good or service produced and the amount of a variable factor | 1 set | |
| 18 | beyond some point the marginal product of labor decreases as successively more units of labor are employed | 1 set | |
| 19 | beyond some point the marginal product of labor decreases as as successively more units of labor are employed | 1 set | |
| 20 | the hypothesis that if increasing quantities of a variable factor are applied to a given quantity of fixed factors, the marginal product of the variable factor will eventually decrease | 1 set | |
| 21 | as more of a variable resource is added to a given amount of a fixed resource, marginal product eventually declines and could become negative | 1 set | |
| 22 | a point where the addition of employees diminishes product quantity; too many people working means that there is less efficiency | 1 set | |
| 23 | a property of the relationship between the amount of a good or service produced and the amount of a variable factor required to produce it | 1 set | |