Diminishing marginal returns Flashcards
1
Q
DMR meaning
A
An increase in input leads to a smaller increase in output than previously. SHORT RUN CONCEPT
2
Q
Diagram
A
13TH SEPTEMBER
Market structures > Diminishing marginal returns > Flashcards
DMR meaning
An increase in input leads to a smaller increase in output than previously. SHORT RUN CONCEPT
Diagram
13TH SEPTEMBER