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Explain how diminishing returns differ from diminishing returns to scale.
The answer should clearly distinguish among SR (one or more factors are fixed) and LR (where all factors are variable).
Diminishing returns (marginal returns) arise in the SR and diminishing returns to scale in the LR caused by for instance efficiency lags in ever-larger firms.
the full detailed of market structure their characteristic ,sources with clear explanation
What are the factors that determine the volume of production?
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Explain how unemployment could be voluntary or involuntary . Start off with a definition of the labour force and then outline the proportion of the labour force which would be
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