3 Questions
What is the main concept of the law of diminishing marginal returns as discussed in the text?
Output per worker decreases as more workers are added but other inputs remain fixed
How does the law of diminishing marginal returns impact equipment per worker in the film industry according to the text?
Equipment per worker decreases as more workers are added
In what scenario would an industry not face diminishing returns to extra workers based on the text?
When adding more workers directly increases output without limit
Explore the concept of diminishing marginal returns in the context of the film and food industries. Learn how adding more workers affects output per worker when other inputs are fixed.
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