In the law of diminishing returns, we see increasing returns at the start of production,...

Question:

In the law of diminishing returns, we see increasing returns at the start of production, production then exhibits diminishing returns until it peaks, and then will exhibit negative returns if we attempt to push beyond that. Now, think about your work day - it could be a work day at your place of employment or a work day of school activities or a workday at home if you are a homemaker.

Provide two examples of how your work day exhibits increasing returns, diminishing returns and then negative returns. Explain how all these different types of returns would happen.

Law Of Diminishing Return:

The law of diminishing return states that as more and more output is produced, total output increases at increasing rate then after a point total output starts increasing at diminishing rate and eventually total output diminishes.

Answer and Explanation:

Daily Life examples exhibiting Law of Diminishing Return-

1) Exercising at Gym - If a person goes for workout at gym for few hours (such as for 60...

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Law of Diminishing Returns: Definition & Examples

from Introduction to Macroeconomics: Help and Review

Chapter 10 / Lesson 8
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