Question

What most accurately describes the difference between diminishing returns and diseconomies of scale?.

Answer 1

Diseconomies - As the use of a factor increases in production while other factors remain constant, a declining return on that factor implies a declining marginal product.

What is diseconomies?
Diseconomies of scale are the financial disadvantages which economic actors experience as a result of growing their organisational size or their output, which leads to higher production costs per unit of goods and services. Economies of scale are opposed by the idea of diseconomies of scale. Diseconomies of scale are the characteristics of a business that cause average costs to rise as it expands past a certain size. All workers at a company should ideally communicate directly with one another so that they are fully aware of what the other employees are doing. There is no need for inter-employee communication in a company with just one employee. A two-person business needs a single line of communication that runs between the two employees.

To learn more about diseconomies
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