Discuss the long and short run impact of concept on the firm

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Question: What do economists mean by "diminishing returns" to an input? What causes diminishing returns? Have you ever observed this principle at work in a job you've had or in the real world? Discuss the long and short run impact of this concept on the firm.

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Provide at least one quotation from your research and its source (Must be after Jan 1, 2019) in your discussion.

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Reference no: EM132280223

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