Examlex
The diagram below conveys the idea that
Diminishing Returns
A rule in economics that holds that after reaching a certain level, further investments in a specific sector will not yield higher returns if all other conditions stay the same.
Law of Demand
The economic principle stating that as the price of a good increases, demand for that good will decrease, and vice versa.
Marginal Cost (MC) Curve
A graphical representation showing how the cost to produce one additional unit of output changes as production volume increases.
Pollution Abatement
Measures and efforts undertaken to reduce, control, or eliminate pollution from various sources to protect the environment.
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