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That decline in investment implies slower productivity growth, while ageing populations in developed countries – and in an increasing number of emerging markets (for example, China, Russia, and South Korea) – reduce the labour input in production.
Capital is the only input in production and could be a composite of physical and human capital [16].
The PPF is linear with a downward slope in two circumstances: If the technology for gathering coconuts and hunting fish exhibits constant returns to scale If there is only one input in production So in the Robinson Crusoe economy, the PPF will be linear due to the presence of only one input.
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Walras had proposed a mathematical model that demonstrated that products and prices automatically adjust in equilibrium; building upon this general equilibrium structure, Barone included variable combinations of inputs in production.
Chemicals and plastics would also reduce gas use considerably due to high requirement for gas inputs in production.
Cost efficiency might be less than 1 for one of the following two reasons: excessive input usage in production or production with a wrong input mix in light of input prices or both.
These impacts were caused primarily due to the use of cement and steel: the energy input in the production stage of these products contribute the most to climate change while the disposal of steel and cement slag is responsible for the emission of heavy metals and, therefore, contributes to both human toxicity and eco-toxicity (Burchart-Korol 2013; Salas et al. 2016).
The main reason is the high production cost resulting from high energy input in the production of various bioenergy fuel.
Feed, the major input in fish production and constituting over half of the production costs, is equally over-utilized.
Second, as is shown in the next chart, which enlarges the health-production process, health care proper is merely an input in the production of health.
Diminishing returns, also called law of diminishing returns or principle of diminishing marginal productivity, economic law stating 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 progressively smaller, or diminishing, increases in output.
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Justyna Jupowicz-Kozak
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