Question: Diminishing marginal returns can be determined by examining ____________. total fixed product variable product average product marginal product Which of the following is an essential

Diminishing marginal returns can be determined by examining ____________.

total fixed product

variable product

average product

marginal product

Which of the following is an essential element in calculating the elasticity of substitution?

Marginal product of capital

Average product of labor

Marginal cost of capital

Average cost of labor

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