Explain about the diminishing returns to an input, Macroeconomics

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Explain about the diminishing returns to an input.

There are diminishing returns to an input while an increase within the quantity of which input, holding the levels of each of other inputs fixed, leads to a decline within the marginal product of such input.

965_Marginal Product of Labor Curve.png

Marginal Product of Labor Curve

145_Total Product, Marginal Product, and the Fixed Input.png

Total Product, Marginal Product, and the Fixed Input

1644_Total Cost Curve for George and Marthas Farm.png

Total Cost Curve for George and Martha’s Farm

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