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What is the Law of Diminishing Marginal Product? - CBSE (Arts) Class 12 - Economics

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Question

What is the law of diminishing marginal product?

Solution

Law of diminishing Marginal Product :-

According to this law, if the units of the variable factor keeps on increasing keeping the level of the fixed factor constant, then initially the marginal product will rise but finally a point will be reached after which the marginal product of the variable factor will start falling. After this point the marginal product of any additional variable factor will be zero, and can even be negative.

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Solution What is the Law of Diminishing Marginal Product? Concept: The Law of Diminishing Marginal Product.
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