2007-10-31 04:06:26 · 3 answers · asked by babyface 1 in Social Science ➔ Economics
As a technology matures further improvements provide less and less benefit. A car manufactured in 1940 could be used today, air travel has not improved much since 1980. Huge gains in life expectancy and quality of life was obtained by the improvement in medicine, but most of it is due to the discoveries that took place before 1950. The newer technologies are still improving, but it could be argued that they have not improved the lives of most people as much as the revolution in transportation and medicine.
2007-10-31 04:57:06 · answer #1 · answered by meg 7 · 0⤊ 0⤋
Yes. The law of diminishing returns affects everything.
The more computers, processors etc you have working on a problem the more coordination and control you need. Each part you add after the first becomes less and less efficient.
2007-10-31 11:11:36 · answer #2 · answered by dadvice1 5 · 1⤊ 0⤋
No, the law of diminishing returns depends of the technology. If two companies has different diminishing curve then they has two different technologies
2007-10-31 11:23:03 · answer #3 · answered by CSI - Economics 4 · 0⤊ 1⤋