The idea that as the quantity of an input increases, the additional output decreases (holding all else
3 answers
Question:
The idea that as the quantity of an input increases, the additional output decreases (holding all else constant is called the law of answer.
Answers
It is called the law of demand and supply whereby when the supply of commodity increases, the need reduces. The market becomes flooded with the items while the number of customers is constant. Moreover, when the supply of a good diminishes its demand goes up.
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