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djsmyers djsmyers
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Posts: 764
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6 years ago
Were it not for the law of diminishing marginal returns, we could grow the world's food supply from a flowerpot.
Textbook 
Microeconomics: Theory and Applications with Calculus

Microeconomics: Theory and Applications with Calculus


Edition: 4th
Author:
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wrote...
6 years ago
True. Given the current state of technology, the law of diminishing marginal returns limits the amount of additional output yielded from additional labor working the flowerpot. Revoking the "law" would allow output to increase at a non-decreasing rate when more labor is applied to the flowerpot.
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