Google
Monday 
December 10, 2018 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
MARGINAL UTILITY CURVE: A curve illustrating the relationship between the marginal utility obtained from consuming a good and the quantity of the good consumed. The marginal utility curve can be used to derived the demand curve, which is discussed in detail in the entry on marginal utility and demand. If you've nothing better to do for the moment, let's derive a marginal utility curve.

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: December 10, 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

AGGREGATE MARKET

An economic model relating the price level and real production that is used to analyze business cycles, gross production, unemployment, inflation, stabilization policies, and related macroeconomic phenomena. The aggregate market, inspired by the standard market model, but adapted to the macroeconomy, captures the interaction between aggregate demand (the buyers) and short-run and long-run aggregate supply (the sellers). Also known by the names AS-AD model or income-price model, the aggregate market is THE cornerstone model of macroeconomic analysis.

Complete Entry | Visit the WEB*pedia


APLS

BLUE PLACIDOLA
[What's This?]

Today, you are likely to spend a great deal of time watching infomercials seeking to buy either a tall storage cabinet with five shelves and a secure lock or a birthday greeting card for your grandmother. Be on the lookout for malfunctioning pocket calculators.
Your Complete Scope

This isn't me! What am I?

A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
"The greatest barrier to success is the fear of failure."

-- Sven Goran Eriksson, writer

ACRS
Accelerated Cost Recovery System
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