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The Law of Diminishing Returns applies to each of the following situations. Explain how. Identify in each case, the “output,” and the “fixed factor.”

A.Trying to grow more soybeans by fertilizing more.

B.Scraping old paint off a wall.

C.For several weeks at the beginning of the Persian Gulf war, the allied forces bombed Iraqi positions in Iraq and Kuwait.

2007-03-01 12:15:11 · 2 answers · asked by that_guy 2 in Social Science Economics

2 answers

The Law of Diminishing Returns is based on how if the same amount of resources are being used for a standard unit of procurement, the efficiency of those resources decreases because further application of those resources becomes more difficult.

A) As you add more fertilizer to a crop, the amount harvested will reduce. For example, if the additional yield of me using 1 ton of fertilizer on 10 acres of farm land could yield 3 tons of extra harvest. The use of one more ton of fertilizer would yield less, say 2 tons making my total additional harvest 5 tons. It would be more efficient if I were to use that second batch of fertilizer on another plot of land so it were to yield an additional 3 tons instead of just 2.

Basically, the efficiency of resources which are invested into a system reduces as more of those resources are implemented.

B) The more time I use to scrape paint off of a wall, the less paint will come off per unit that I scrape. If I scrape paint off of a wall for 15 minutes, I could scrape off 3 lbs. of paint. If I spent another 15 minutes, I would scrape off 2 lbs. of paint during that 15 minutes since the same amount of effort and focus are being applied while there is less paint on the wall.

C) At the beginning of the war, there were both the most easiest targets and the most amount of targets. During day one, I could order my pilots to drop 1,500 bombs and destroy 200 targets. During day two, I would drop the same amount of bombs and destroy less, say 120 targets. Because the easiest ones have already been taken out and because there are less out there, the efficiency of my pilots, bombers, and bombs becomes reduced.

2007-03-01 12:45:09 · answer #1 · answered by Mikey C 5 · 0 0

A.farm stuff is very stressful in water and applications of fertilizers the fixed factor here is the basic costs, the out put is based on more land to produce more yield to get more out of same amount of land and it is not easy to control the factors

B. fixed the wall is going to be costly as long as it stands
output~the better the prep,and paint is going to cost more to get better results

C.fixed we have to rebuild when it is over
output~get the war over as soon as financially possible

2007-03-01 12:27:04 · answer #2 · answered by bev 5 · 0 0

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