Economics · Production Theory
'If the quantity of one productive service is increased by equal increments, the quantities of other productive services remaining fixed, the resulting increments of product will decrease after a certain point.' This definition of the law of diminishing returns is given by:
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- 1Alfred Marshall
- 2J. M. Keynes
- 3Prof. Stigler✓
- 4Mrs. Joan Robinson
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Prof. Stigler
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