Productivity and Cost: Organic Food

Paper Summary:

The paper reviews the application of the law of marginal productivity in a strategic production decision by a company. The paper discusses the concept of diminishing returns and explores the new product development for the larger market.

From the Paper:

"Strategic decision based on production and cost at wildwood harvest foods. The law of marginal productivity is based on the concept of diminishing marginal productivity, more typically referred to as the law of diminishing returns. The hypothesis underlying the law of diminishing returns is that if one factor of production is increased by small constant amounts while all other factor quantities are held constant then after some point the resulting increases in output become smaller and smaller."

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