The Law of Diminishing Marginal Return in Regards to Children:

The Law of Diminishing Marginal Return in Regards to Children:

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The Law of Diminishing Marginal Return in Regards to Children:
Patricia Postell, Microeconomics 210 Embry-Riddle
Zachary Schuessler
Embry-Riddle Aeronautical University Worldwide

Economics is the study of outside influences affecting people’s decisions in regards to financial decisions. One of these key principles is the law of diminishing marginal returns. The law states that perceived value of an article to the consumer decreases with each additional unit of the good acquired. This paper will look to identify and apply this theory to the individuals desire to have children.
Having children comes with its own unique set of economic consequences. There are both advantages, in the form of subsidies and tax breaks, as well as disadvantage such as the accounting of personal time and energy spent on the raising of the child that could be spent elsewhere, and also the long term total cost of raising 1 or more child. This paper will attempt to determine if it is economically beneficial to have children and if so what is the optimal number of children to have in order to minimize the effects of the law of diminishing marginal returns.

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