Why can't economists identify a definite time period that constitutes the short run?
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Q45: Average product
A)is a standard unit of measure
Q46: Increasing returns occur when
A)marginal cost is increasing.
B)marginal
Q47: When a one-unit increase in input increases
Q48: Exhibit 8-4 Q49: Define average total cost, average variable cost, Q51: Increasing marginal product of labor results in Q52: When marginal cost is less than average Q53: Marginal product is at its maximum when Q54: Exhibit 8-4 Q55: Marginal product increases over some range because
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