law of diminishing returns (4.1.3) 0.0 / 5 ? Economicslaw of diminishing returns (4.1.3)ASAQA Created by: lee42Created on: 03-06-19 12:01 What is total returns? it is the total returns created by all inputs 1 of 5 what is marginal returns? it is the output form adding an additional unit or input 2 of 5 What is average returns? it is the total return divided by the number of inputs 3 of 5 what is dimishing marginal returns? is the concept that the more of something you add, the lower the impact of each additional unit, assuming other things being equal 4 of 5 What always falls when in short run output increases average fixed costs 5 of 5
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