Explain importance of diminishing marginal return assumption

Reference no: EM13235571

Using a non-numerical example, explain how firms should decide how many employees to hire. Your example should be original -- not one from the textbook or my lecture. Make sure response explains how optimal firm behavior will lead to scale and substitution effects. Also explain the importance of the diminishing marginal returns assumption

Reference no: EM13235571

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Explain importance of diminishing marginal return assumption : Your example should be original -- not one from the textbook or my lecture. Make sure response explains how optimal firm behavior will lead to scale and substitution effects. Also explain the importance of the diminishing marginal returns assumpti..

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