diminishing returns(redirected from Law of increasing opportunity costs)
Also found in: Financial.
A yield rate that after a certain point fails to increase proportionately to additional outlays of capital or investments of time and labor.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
1. (Economics) progressively smaller rises in output resulting from the increased application of a variable input, such as labour, to a fixed quantity, as of capital or land
2. (Economics) the increase in the average cost of production that may arise beyond a certain point as a result of increasing the overall scale of production
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
any rate of profit, production, benefits, etc., that beyond a certain point fails to increase proportionately with added investment, effort, or skill.
Random House Kernerman Webster's College Dictionary, © 2010 K Dictionaries Ltd. Copyright 2005, 1997, 1991 by Random House, Inc. All rights reserved.