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Tags
#cfa-level-1 #economics #has-images #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4

Question
In Region 2, however, (L1L2), TP is increasing at a decreasing rate because capital is fixed, and labor experiences [...]
Answer
diminishing marginal returns.

Tags
#cfa-level-1 #economics #has-images #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4

Question
In Region 2, however, (L1L2), TP is increasing at a decreasing rate because capital is fixed, and labor experiences [...]
Answer
?

Tags
#cfa-level-1 #economics #has-images #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4

Question
In Region 2, however, (L1L2), TP is increasing at a decreasing rate because capital is fixed, and labor experiences [...]
Answer
diminishing marginal returns.
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In Region 2, however, (L 1 – L 2 ), TP is increasing at a decreasing rate because capital is fixed, and labor experiences diminishing marginal returns.

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itive changes in TP as labor is added, but the change turns negative in Region 3. Moreover, in Region 1 (L 0 – L 1 ), TP is increasing at an increasing rate, typically because specialization allows laborers to become increasingly productive. <span>In Region 2, however, (L 1 – L 2 ), TP is increasing at a decreasing rate because capital is fixed, and labor experiences diminishing marginal returns. The firm would want to avoid Region 3 if at all possible because total product or quantity would be declining rather than increasing with additional input: There is so little capital pe

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