The Law of Diminishing Returns can seem counter-intuitive. What example of diminishing returns could be used to explain this concept to a friend?© BrainMass Inc. brainmass.com October 17, 2018, 3:20 am ad1c9bdddf
A simple example is the effect of adding additional workers to a production process. Adding a few workers might increase ...
A straightforward example of the Law of Diminishing Returns
Definition and example of the Law of Diminishing Returns.
The following table gives total output or total product as a function of labor units used.
LABOR TOTAL OUTPUT
a) Define diminishing returns.
b) Does the table indicate a situation of diminishing returns? Explain.