I think the law of diminishing returns means that in all productive processes, (meaning positive?) adding more of one particular factor will at some point will yield lower per-unit returns? How close am I?
This is essentially correct Dylan: Now, we must ask ourselves to what extent does this law apply in our lives? That is to say, what kind of "law" is it? Are there any exceptions?
This is essentially correct Dylan: Now, we must ask ourselves to what extent does this law apply in our lives? That is to say, what kind of "law" is it? Are there any exceptions?
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