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Discuss the impact of rational self-interest on each of the following decisions. Whether to attend college full time or enter the workforce full time Whether

Discuss the impact of rational self-interest on each of the following decisions.

  1. Whether to attend college full time or enter the workforce full time
  2. Whether to buy a new textbook or a used one
  3. Whether to attend a local college or an out-of-town college

(Production in the Short Run) Complete the following table. At what point does diminishing marginal returns set in?

Units of the

Variable ResourceTotal ProductMarginal Product

00

110

222

39

44

534

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