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The law of diminishing marginal returns states that eventually the marginal product of an input will tend to fall as more input is added. Describe real-life scenarios, explaining why this is likely to happen. For example, imagine a backyard garden of fixed size and all other inputs except labor also fixed ; will adding a worker increase your output? Will adding another increase output by as much? another?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9449079

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