Diminishing returns or increasing costs refer to that production situation where if all the factors of production are increased in a given proportion output increases in a smaller proportion. Advance of money for payment in order to influence vote. The Law Of Diminishing Returns Is A Concept I Learned While Studying Economics Learn About Diminishing Returns And Diminishing Returns Data Science Exam Study The law of diminishing marginal utility is a law of economics stating that as a person increases consumption of a product while keeping consumption of other. . To explain this economic principle in the most efficient way we will use the same imaginary factory for our examples. When due and payable. Factory X makes cogs and gizmos. The law of diminishing marginal utility states that the amount of satisfaction provided by the consumption of every additional unit of good decreases as we increase that goods consumption. In the...