The figure below shows a per-worker production function. The bowed shape of the per-worker production function illustrates the law of diminishing returns to scale.
Definitions:
Construct System
A psychological framework used to understand and interpret the world, unique to each individual.
Range of Convenience
The scope or area within which a particular activity, concept, or object is considered appropriate, useful, or accessible.
Self-Actualizing
A term coined by Abraham Maslow referring to the realization or fulfillment of one's talents and potentialities, especially considered as a drive or need present in everyone.
Low Risk Choice
A decision made under conditions of uncertainty that has the least potential for negative consequences.
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