When to Use the Principle of Diminishing Returns? You are the manager of a firm that produces

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When to Use the Principle of Diminishing Returns? You are the manager of a firm that produces memory chips for mobile phones.

a. In your decision about how much output to produce this week, would you use the principle of diminishing returns? Explain.

b. In your decision about how much output to produce two years from now, would you use the principle of diminishing returns? Explain.

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