Outrageously Funny Word Dictionary :: Koefoed's

👉 Koefoed's law, also known as the law of diminishing returns or the law of diminishing marginal utility, is a fundamental principle in economics that explains how much additional units of an input can be produced with fewer units of another input. It states that for any given amount of output, the more you use a resource (input), the less it contributes to your overall output. The law suggests that as the amount of a good or service increases, its price per unit decreases, which is

Koefoed's