Multiple Choice
Which one of the statements is true?
A) Diminishing returns is a long-run concept while decreasing returns to scale is a short-run concept.
B) Diminishing returns is a short-run concept while decreasing returns to scale is a long-run concept.
C) Diminishing returns is a both short and long-run concept while decreasing returns to scale is a short-run concept.
D) Diminishing returns is a long-run concept while decreasing returns to scale is a short and long-run concept.
Correct Answer:
Verified
Correct Answer:
Verified
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