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Think of Paul Newman's production function in terms of inputs (elapsed time) and outputs (eggs eaten). What would this production function look like if you
- Think of Paul Newman's production function in terms of inputs (elapsed time) and outputs (eggs eaten). What would this production function look like if you graphed it? I.E. Would Newman's production function exhibit increasing, decreasing, or constant marginal returns? Now describe a situation in your own life in which you have experienced diminishing marginal returns.
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