0 The law of diminishing returns refers to a situation in which a smaller result is achieved for an increasing amount of effort.
1 a situation in which less and less is achieved despite the use of increasing amounts of effort or money:
Since land and water are region specific, the regional level production functions exhibit diminishing returns to scale.
We will also see diminishing returns associated with political moderation.
This pattern suggests that social diffusion produces diminishing returns, not accelerating effects.
Given diminishing returns to capital, rich countries should grow less rapidly than poor countries.
Epistasis of neither the ' diminishing returns ' nor ' increasing returns ' type was visible.
Therefore, additional layers are likely to suffer from diminishing returns.
Once institutions enter the picture, their coordination solutions involve positive feedbacks that were absent in theoretical models based on pervasive diminishing returns.
The idea of diminishing returns to effort expended upon the land became generally accepted in economics.
