Google
Saturday 
October 20, 2018 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
PERSONALITY: A consistent pattern of behavior in certain situations. These behavioral tendencies are influenced by both hereditary and environmental factors resulting in individual characteristics. Marketing researchers look for certain personality characteristics that affect patterns of consumer buying behavior.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

LAW OF DIMINISHING MARGINAL RETURNS: A principle stating that as more and more of a variable input is combined with a fixed input in short-run production, the marginal product of the variable input eventually declines. This is THE economic principle underlying the analysis of short-run production for a firm. Among a host of other things, it offers an explanation for the upward-sloping market supply curve. How does the law of diminishing marginal returns help us understand supply? The law of supply and the upward-sloping supply curve indicate that a firm needs to receive higher prices to produce and sell larger quantities. Why do they need higher prices?

     See also | increasing marginal returns | decreasing marginal returns | marginal product | marginal cost | short-run production | supply curve | fixed input | variable input |


Recommended Citation:

LAW OF DIMINISHING MARGINAL RETURNS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: October 20, 2018].


AmosWEB Encyclonomic WEB*pedia:

Additional information on this term can be found at:

WEB*pedia: law of diminishing marginal returns

Search Again?

Back to the GLOSS*arama

INCOME CHANGE, UTILITY ANALYSIS

A disruption of consumer equilibrium identified with utility analysis caused by changes in the buyers' income, which results in a change in the quantities of the goods consumed. The change in buyers' income alters the income constraint and forces a reevaluation of the rule of consumer equilibrium.

Complete Entry | Visit the WEB*pedia


APLS

GREEN LOGIGUIN
[What's This?]

Today, you are likely to spend a great deal of time looking for a downtown retail store wanting to buy either a handcrafted bird house or a weathervane with a chicken on top. Be on the lookout for door-to-door salesmen.
Your Complete Scope

This isn't me! What am I?

The average bank teller loses about $250 every year.
"Failure is the opportunity to begin again, more intelligently. "

-- Henry Ford, automobile manufacturer

SLLN
Strong Law of Large Numbers
A PEDestrian's Guide
Xtra Credit
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.

User Feedback



| AmosWEB | WEB*pedia | GLOSS*arama | ECON*world | CLASS*portal | QUIZ*tastic | PED Guide | Xtra Credit | eTutor | A*PLS |
| About Us | Terms of Use | Privacy Statement |

Thanks for visiting AmosWEB
Copyright ©2000-2018 AmosWEB*LLC
Send comments or questions to: WebMaster