Explain the difference between Diminishing marginal productivity and Increasing returns to scale and explain with graphs how

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Explain the difference between “Diminishing marginal productivity” and “Increasing returns to scale” and explain with graphs how they determine the shape of short-run and long-run AC function.

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Managerial economics

ISBN: 978-1118041581

7th edition

Authors: william f. samuelson stephen g. marks

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Posted Date: Sep 26, 2020 02:44 AM

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Explain the difference between Diminishing marginal productivity and Increasing returns to scale and explain with graphs how

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Diminishing Marginal Returns vs Returns to Scale In business it is imperative to arrive at a degree of ideal creation This guarantees that all factors of creation are being utilized in their best limi... View the full answer

Managerial economics

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