单词 | diminishing marginal product |
释义 | diminishing marginal productDefinition Fall in the rate-of-increase in output of a process as the amount of an input is increased, while the amount of other inputs is held constant. For example, it is usually possible to increase the output of a farm by adding more labor, fertilizers, or water-but only up to a certain extent. If it were otherwise, any one farm could feed the entire world. |
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