What is the law of diminishing returns? Why does marginal product eventually diminish?

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Microeconomics

ISBN: 978-0133019940

11th edition

Authors: Michael Parkin

Question Posted: Dec 15, 2015 07:14 AM

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What is the law of diminishing returns? Why does marginal product eventually diminish?

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The law of diminishing returns states that as a firm uses more of a v...View the full answer

Microeconomics

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