diminishing marginal product
Definition
Fall in the rate-of-increase in output of a process as the amount of an input is increased, while the amount of other inputs is held constant. For example, it is usually possible to increase the output of a farm by adding more labor, fertilizers, or water-but only up to a certain extent. If it were otherwise, any one farm could feed the entire world.
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diminishing marginal product is in the Economics, Politics, & Society, Industries, Manufacturing, & Technology and Planning & Scheduling subjects.
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