What is the difference between "diminishing marginal returns" and "decreasing returns to scale?"
A) diminishing marginal returns refers to production in the short run whereas decreasing returns to scale refers to production in the long run.
B) diminishing marginal returns refers to production in the long run whereas decreasing returns to scale refers to production in the short run.
C) diminishing marginal returns means that output decreases whereas decreasing returns to scale means that sales revenue decreases.
D) there is no difference.
Correct Answer:
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