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Refer to Figure 10.4.1, which illustrates the total product curves for four different plant sizes. One of the fundamental technological facts reflected in the shape
Refer to Figure 10.4.1, which illustrates the total product curves for four different plant sizes. One of the fundamental technological facts reflected in the shape of each of the total product curves is the price of the output. price of the inputs. law of diminishing marginal returns. law of economies of scale. fact that capital and labour cannot be substituted for each other
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