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32. Given the information above, when does the law of diminishing returns set in for the firm? S per bushel 60 50 O 40 30
32. Given the information above, when does the law of diminishing returns set in for the firm? S per bushel 60 50 O 40 30 c 20 10 0 10 20 30 40 50 60 70 80 Bushels 33. Refer to the figure above. Label curves A, B,C. 34. Refer to the figure above. If are mushrooms selling for $10 per bushel, and Mustafa chooses the profit maximizing quantity, what is that quantity? At this quantity, what is his profit? What should Mustafa do? (i.e. shut down or continue)
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