I've been thinking about your analogy and would like to pose a question. Taking the fire hydrant-- if the flow of water at maximum actually overwhelmed the valve, causing water to spray all over and possibly damaging the valve then this would be inefficient. As well, if the pressure from the hydrant were actually low, one would like to adjust the valve to this pressure.
To go back to the original circuit: if the input level is fixed, you are using a relatively high level as your benchmark. This means putting a larger series resistor to create a voltage divider. Problem being when you have a small signal, that series resistor will be a source of noise. The gear related noise on the output should actually be louder as the output level will have to be adjusted higher with lower input signal levels.
To go back to the original circuit: if the input level is fixed, you are using a relatively high level as your benchmark. This means putting a larger series resistor to create a voltage divider. Problem being when you have a small signal, that series resistor will be a source of noise. The gear related noise on the output should actually be louder as the output level will have to be adjusted higher with lower input signal levels.
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