Briefly explain why when the marginal cost of an activity increases as one does more of...

 

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Briefly explain why when the marginal cost of an activity increases as one does more of it and why the marginal benefit of an activity decreases the more one engages in it. Briefly explain why when the marginal cost of an activity increases as one does more of it and why the marginal benefit of an activity decreases the more one engages in it.

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The marginal cost of an activity typically increases as one engages in more of it due to the concept of diminishing returns This means that as more re... View the full answer