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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

What are diminishing marginal returns?

To determine

Diminishing marginal returns.

Explanation

The process of the diminishing returns describe it as an employing an additional factor which can help to relate with the production that can cause a relatively smaller amount of the increase in output. This is also diminishing returns that can occur during the short run which describes how the one factor is fixed (e.g. capital). The law of diminishing marginal returns that mentions how an additional factor of production that describes how it would result in a smaller increase in output...

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