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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

“As we add more capital to more labor, eventually the law of diminishing marginal returns will set in.” What is wrong with this statement?

To determine

Explain the situation of law of diminishing return.

Explanation

The law of diminishing returns refers to the situation where adding more of a variable to the same amount of a fixed input will cause the marginal product of the variable input to decline...

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