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The following table gives total output or total product as a function of labor units used. Labour Total Product 0 0 1 30 2 54
The following table gives total output or total product as a function of labor units used. Labour Total Product 0 0 1 30 2 54 3 72 4 84 5 90 1. Define diminishing returns. 2. Does the table indicate a situation of diminishing returns? Explain your
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