Law of diminishing marginal returns
Problem: What's the difference between the law of diminishing marginal returns and the law of diminishing marginal rate of technical substitution?
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Each of the following situations could exist for a firm in the short run. In each case, indicate whether the firm should produce in the short run or shut down in the short run, or whether additional information is needed to determine what it shoul
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What's the difference between the law of diminishing marginal returns and the law of diminishing marginal rate of technical substitution?
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