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True or False: The shape of the production function reflects the law of increasing marginal returns. True False

Sagot :

Answer: False

Explanation:

The statement that "The shape of the production function reflects the law of increasing marginal returns" is false. Rather, the shape of the production function simply reflects the law of diminishing marginal returns.

The slope of the production function is used in the measurement of the change in output for every unit of labor input that's added.

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