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In Jrg Niehans' four quadrant graph explaining Thnen's Isolated State, the intercept on the marginal productivity axis varies according to different locations. Is this inconsistent
In Jrg Niehans' four quadrant graph explaining Thnen's Isolated State, the intercept on the marginal productivity axis varies according to different locations. Is this inconsistent with the proposition of a constant wage rate in the Law of Diminishing Marginal Productivity? Why? Discuss in detail.
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