Lesson 5 of 10 • 8 upvotes • 8:06mins
Law of diminishing returns is explained in detail along with its assumptions.
10 lessons • 1h 17m
Overview - Production Function
3:01mins
Production Function
8:17mins
Types of Outputs/Products
8:49mins
Relationships Among Different Products
8:24mins
Law of Diminishing Marginal Returns
8:06mins
Three Stages of Production
8:03mins
Returns to Scale
7:51mins
Three ways of Returns to Scale
8:11mins
Production Isoquants
8:11mins
Marginal Rate of Technical Substitution
8:19mins