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Diminishing returns occurs

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Reference no: EM131762939

Diminishing returns occurs

  1. In every short run production process.
  2. When the additional output that results from adding another worker is smaller than the additional output from the previous worker.
  3. And this leads to rising marginal costs.
  4. All of the above.
  5. None of the above because diminishing returns is a long run concept.

Reference no: EM131762939

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