Diminishing Returns graph (wikipedia.org)
Definition
Law of Diminishing Returns (or Principle of Diminishing Marginal Productivity) is an economic concept which states that after a certain point has been reached – the point of diminishing returns – each successive application of a factor of production will add less to total output than before.[1]
For more information, see Wikipedia on diminishing returns.
References
- ^ American Marketing Association, AMA Dictionary.