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According to John Stuart Mill's Principle of Harm, the only ground on which the government should intervene in the conduct of an individual is when
Marginal Cost
The cost incurred by producing one additional unit of a product or service.
Output
The total amount of goods or services produced by an individual, company, or economy during a specific period.
Negative Marginal Returns
Occurs when adding an additional factor of production actually decreases the total output, which can happen when there is too much input for the available resources or technology.
Input
Resources used in the production process to create goods or services, including labor, raw materials, and capital.
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