(a) Explain what diminishing returns and economies of scale mean? (b) Compare and contrast diminishing return and...

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(a) Explain what diminishing returns and economies of scale mean?
(b) Compare and contrast diminishing return and economies of scale?
(c) Give examples of diminishing returns and economics of scale?

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Macroeconomics Principles and Applications

ISBN: 978-1133265238

5th edition

Authors: Robert e. hall, marc Lieberman

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Question Posted: Aug 26, 2013 07:48 AM

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(a) Explain what diminishing returns and economies of scale mean? (b) Compare and contrast diminishing return and...

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a Economics of scale If all inputs are increased by a factor of c output goes up by a factor of z then in general a producer experiences Increasing re...View the full answer

Macroeconomics Principles and Applications

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