Law of diminishing returns applies to which of subsequent

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Q. An increase in the number of industries in a marketplace will cause the quantity of a good supplied to increase true or false?

Q. Assume the industry has only three possible scales of production as Elucidate hown below:
a. Which scale of production is most efficient when Q = 65?
b. Which scale of production is most efficient when Q = 75?
c. Trace out the long-run average cost curve on the diagram.

Q. The law of diminishing returns applies to which of the subsequent segments of the marginal product of labour curve?

Reference no: EM1322804

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