Explain how a firms costs of production are affected by the law of diminishing returns in the

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Explain how a firm’s costs of production are affected by the law of diminishing returns in the short run and how they may be affected by economies of scale in the long run?

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Principles of economics

ISBN: 978-0538453042

6th Edition

Authors: N. Gregory Mankiw

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Posted Date: Jan 10, 2021 12:02 AM

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Explain how a firms costs of production are affected by the law of diminishing returns in the

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The law of diminishing return is when additional units of variable factors of production are added t... View the full answer

Principles of economics

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