local realtor associations: The Law of Diminishing Returns Is Against Realtors.
- 09/27/17 11:56 AM
The Law pf Diminishing Returns is a basic law of economics.
It says that if one input in the production of a commodity is increased while all other inputs are held fixed, a point will eventually be reached at which additions of the input yield are smaller.
The classic example is of a farmer who has, say, four workers picking cotton on his property. He figures that if he increases the number to eight, the cotton picking will be completed wice as fast. Intrigued, after seeing that worked, he doubles the number of workers to sixteen.
But now there are so many … (26 comments)
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