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Business, 02.09.2019 19:20 sierrathomas431
The law of diminishing returns indicates that: a. because of economies and diseconomies of scale a competitive firm's long-run average total cost curve will be u-shaped. b. the demand for goods produced by purely competitive industries is downsloping. c. as extra units of a variable resource are added to a fixed resource, marginal product will decline beyond some point. d. beyond some point the extra utility derived from additional units of a product will yield the consumer smaller and smaller extra amounts of satisfaction.
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