Explain the difference between the law of diminishing marginal returns and the law of diminishing marginal rate

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Explain the difference between the law of diminishing marginal returns and the law of diminishing marginal rate of technical substitution.

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Managerial Economics and Business Strategy

ISBN: 978-0071267441

7th Edition

Authors: Michael R. baye

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Question Posted: Nov 15, 2011 10:53 AM

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Explain the difference between the law of diminishing marginal returns and the law of diminishing marginal rate

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The law of diminishing marginal returns is the decline in marginal productivity ...View the full answer

Managerial Economics and Business Strategy

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