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law of diminishing returns

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Definition of law of diminishing returns

: a principle in economics: at any given stage of technological advance an increase in productive factors (as labor or capital) applied beyond a certain point fails to bring about a proportional increase in production

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“Law of diminishing returns.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/law%20of%20diminishing%20returns. Accessed 22 Jan. 2021.

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