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diminishing physical returns [1 record]

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Record 1 1981-01-23

English

Subject field(s)
  • Laws of the Market (Economy)
OBS

The firm's demand curve for any factor is given by its curve of marginal-revenue-product for that factor, a curve which declines because of (1) diminishing physical returns and (2) the downward slope of the MR curve that usually prevails under imperfect competition.

French

Domaine(s)
  • Lois du marché (Économie)

Spanish

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