WebApr 6, 2024 · The law of Diminishing Returns states that the result of adding a factor of production is a smaller increase in output. The addition of any amount of a factor of production, after some best possible level of capacity utilization, will inevitably capitulate decreased per-unit incremental returns. WebThe 2007–2008 financial crisis, or Global Financial Crisis (GFC), was a severe worldwide economic crisis that occurred in the early 21st century. It was the most serious financial crisis since the Great Depression (1929). Predatory lending targeting low-income homebuyers, excessive risk-taking by global financial institutions, and the bursting of the …
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Web1. The law of diminishing returns only applies in cases where: * There is increasing scarcity of factors of production. There is at least one fixed factor of production. The capital is a variable input. The price of extra units of a factor is increasing. 2. If the marginal cost curve is below the average variable cost curve, then: * WebApr 13, 2024 · In the case of DEA, variable returns to scale (VRS) technical efficiency (TE) enveloped data more closely than constant returns to scale (CRS) TE. Results of efficiency suggest significant economic, technical, and allocative inefficiencies in potato farming and there is a scope to increase potato production levels through efficiency improvement. WebThe law of diminishing returns states that an additional amount of a single factor of production will result in a decreasing marginal output of … rcpch blood results