Law Of Diminishing Returns
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Law Of Diminishing Returns :
The "law" of diminishing marginal returns says that after a possible initial increase in marginal returns, the MPP of an input will fall as the total amount of the input rises (holding all other inputs constant). The "law" is far from universal in its validity, though there are many examples.
For example, most people find that listening to the same piece of music over and over again during a day implies that each additional hearing is less pleasant than the previous one, at least after the initial stage of gaining familiarity with the piece. This is an example of diminishing marginal utility of the piece. (Case & Fair, 1999: pp. 135-137).
The usual argument in favor of diminishing marginal physical returns is in terms of crowding: if you put too many seeds (or too much fertilizer) in the ground, eventually each additional increment pays off less than previous ones.