{"id":9676,"date":"2022-04-14T17:00:45","date_gmt":"2022-04-14T17:00:45","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/?post_type=chapter&p=9676"},"modified":"2024-09-11T16:43:36","modified_gmt":"2024-09-11T16:43:36","slug":"module-7-discussion-diminishing-returns","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/chapter\/module-7-discussion-diminishing-returns\/","title":{"raw":"Module 7 Discussion: Diminishing Returns","rendered":"Module 7 Discussion: Diminishing Returns"},"content":{"raw":"Respond to the following prompt in a post with a minimum of 150 words. Then comment on at least TWO other posts.\r\n\r\n\u201cDiminishing Returns\u201d is a concept, or more precisely, an empirical finding that shows up in a variety of places in microeconomics. We first encountered it in the module on utility, and then again in this module on production and costs.\r\n\r\nWhat do economists mean by \u201cdiminishing returns\u201d to an input? What causes diminishing returns? Have you ever observed this principle at work in a job you\u2019ve had? Describe how you\u2019ve experienced this concept in the real world.","rendered":"

Respond to the following prompt in a post with a minimum of 150 words. Then comment on at least TWO other posts.<\/p>\n

\u201cDiminishing Returns\u201d is a concept, or more precisely, an empirical finding that shows up in a variety of places in microeconomics. We first encountered it in the module on utility, and then again in this module on production and costs.<\/p>\n

What do economists mean by \u201cdiminishing returns\u201d to an input? What causes diminishing returns? Have you ever observed this principle at work in a job you\u2019ve had? Describe how you\u2019ve experienced this concept in the real world.<\/p>\n\n\t\t\t

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Candela Citations<\/h3>\n\t\t\t\t\t
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