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What war the 3 stages of production?
Three stages of production are increasing marginal returns, diminishing marginal returns, and negative marginal returns.
What are the stages of production of a firm?
a]increasing marginal returns b]diminishing returns c]negative returns
Why isoquants convex to the origin?
law of diminishing returns
Who is responsible for the law of diminishing returns?
Thomas Malthus
What offsets the law diminishing returns?
technical innovation
What war the 3 stages of production?
Three stages of production are increasing marginal returns, diminishing marginal returns, and negative marginal returns.
Are there diminishing returns to risk taking?
No. Fundemantaly returns increase with risk, they do not diminish.
What are the stages of production of a firm?
a]increasing marginal returns b]diminishing returns c]negative returns
Definition of overexploitation?
Exploitation to the point of diminishing returns.
What is increasing input with reduced output?
Diminishing returns.
Why isoquants convex to the origin?
law of diminishing returns
Who is responsible for the law of diminishing returns?
Thomas Malthus
What offsets the law diminishing returns?
technical innovation
Who is responsible for the law diminishing returns?
Thomas Malthus
Who is responsible for law of diminishing returns?
Thomas Malthus
Explain how the diminishing returns influences the shape of the variable cost and total cost curves?
how diminishing returns influences the shapes of the variable-cost and total-cost curves
The importance of the law of diminishing returns?
The law of diminishing returns helps managers maximize their profits. At the point where their costs begin to rise, they can switch to another product to make more money.
