The "law" of diminishing returns is what happens to marginal returns as all inputs are varied.
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Q9: The "law" of diminishing returns asserts that
Q10: In the long run, more costs become
Q11: For most firms, the short run is
Q12: Average physical product measures the increase in
Q13: Marginal revenue product is the effect of
Q15: Average physical product measures the output per
Q16: Total physical product shows what happens to
Q17: The long run is a period long
Q18: The short run is that period during
Q19: In most businesses, there is only one
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