From a physiological standpoint there is good reason to believe--although specific evidence is inadequate to prove--that the law of diminishing returns applies in feeding chickens for egg production. From an economic standpoint this does not appear to have the practical significance that it does, for example, in milk production. It is almost always most profitable to feed hens to capacity. Chief opportunities for economic adjustment of production arise rather through such things and proper culling of flocks or varying the composition of the ration to take advantage of changing cost relationships of the components. the new "high efficiency" rations appear to offer promise for more profitable production under favorable price relationships.