If it were not for the law of diminishing returns, a firm's average cost and average variable

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"If it were not for the law of diminishing returns, a firm's average cost and average variable cost would not increase in the short run." Do you agree with this statement? Explain.

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Managerial Economics

ISBN: 978-0133020267

7th edition

Authors: Paul Keat, Philip K Young, Steve Erfle

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Question Posted: Jun 20, 2016 12:32 AM

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If it were not for the law of diminishing returns, a firm's average cost and average variable

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Managerial Economics

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