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Assuming technology and production techniques are fixed nd cannot change, if beyond some point of production a firm experiences declining units of additional output with
Assuming technology and production techniques are fixed nd cannot change, if beyond some point of production a firm experiences declining units of additional output with each additional unit of labor input, then the firm is experiencing the effects of the law of
marginal utility
diminishing marginal costs
supply and demand
diminishing returns
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Principles Of Econometrics
Authors: R Carter Hill, William E Griffiths
3rd Edition
0471723606, 9780471723608
