Mary Jane Sudekum, Pharm.D., and Lee C. Vermeulen, M.S. Key Words: therapeutic interchange, guidelines, drug policies, drug. procedures, pharmacy and therapeutics committee, patient care, cost-effective. therapy, American College of Clinical Pharmacy, ACCP, position statement.
The law of diminishing marginal utility is similar to the law of diminishing returns which states that as the amount of one factor of production increases as all other factors of production are held the same, the marginal return (extra output gained by adding an extra unit) decreases.
What is the 'Law Of Diminishing Marginal Productivity' The law of diminishing marginal productivity is an economic principle that states that while increasing one input and keeping other inputs at the same level may initially increase output, further increases in that input will have a limited effect, and eventually no effect or a negative effect, on output.