In January 2025
Answer to Question #227021 in Microeconomics for poto
Explain the Law of diminishing return and why is it applicable especially in agriculture sector? with the help of graph
Law of diminishing returns tends to state that when additional production factor is added, the output increases in smaller percentage. In the agricultural sector, when an additional factor of production is added, the firm takes time to adapt to the respective processes hence lowering the increase percentage.
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