What does rational choice in econ? What are some of the pros and cons of using this concept in economics? what is the law diminishing marginal returns ? why or how is this relevant for our discussion of firm behavior in the short run

What does rational choice in econ? What are some of the pros and cons of using this concept in economics? what is the law diminishing marginal returns ? why or how is this relevant for our discussion of firm behavior in the short run

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter8: Production And Costs

Section: Chapter Questions

Problem 15QP

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What does rational choice in econ? What are some of the pros and cons of using this concept in economics?

what is the law diminishing marginal returns ? why or how is this relevant for our discussion of firm behavior in the short run

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