CHOOSE ONE QUESTION from the list below. Clearly indicate which question you are answering. Make sure you answer each part of the question in your response. Format your response into a short essay (not a bulleted list). Wherever possible you should draw on arguments from relevant course readings/videos and indicate that you are doing so by citing the title or author's name. Please do not include quotations. Question 1: In the short run, your textbook assumes diminishing marginal products. Explain what this means. What is the significance of this assumption for the theory of the firm? In the long run, the assumption does not hold. Explain why not. What assumption replaces diminishing marginal products in the long run? What do these assumptions indicate about the political aims of neoclassical economics