Diminishing Returns and the Production Function- Micro Topic 3.1
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YouTubeJacob Clifford
Diminishing Returns and the Production Function- Micro Topic 3.1
I explain the idea of fixed resources and the law of diminishing marginal returns. I also discuss how to calculate marginal product and identify the three stages of returs: increasing, decreasing, and negative returns. For more econ stuff, visit my website www.ACDCEcon.com Need help? Check out the Ultimate Review Packet for FREE: https://www ...
已浏览 188.4万 次2015年11月12日
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SOLVED:What is the relationship between marginal product and marginal cost? (Hint: Look at the curves.) Why do you suppose that is? Is this relationship the same in the long run as in the short run?
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