ECO365 Week 2 Discussion 2

ECO 365 Week 2 DQ 2
In your own words, describe the law of diminishing marginal productivity. Using an example from your workplace, describe how the law of diminishing marginal productivity can arise and impact the cost of production. How would an automobile manufacturer use diminishing marginal productivity to determine how many workers to hire.

ECO365 Week 2 Discussion 2

In your own words, describe the law of diminishing marginal productivity. Using an example from your workplace, describe how the law of diminishing marginal productivity can arise and impact the cost of production. How would an automobile manufacturer use diminishing marginal productivity to determine how many workers to hire. My interpretation regarding the law of diminishing marginal productivity tells me that as one variable is changed to increase production eventually that same changed variable will come to a peak and then begin to fall. Using my primary job as an example I think that I can show this pretty well. I work in a distrib...

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