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QUESTION
y is it that, in the short-run, after a certain number of workers has been hired, output increases by less and less with each additional worker hired?...
Why is it that, in the short-run, after a certain number of workers has been hired, output increases by less and less with each additional worker hired? Illustrate your answer with an example. Would there be any circumstances under which this phenomenon would not occur?
Why is it that, in the short-run, after a certain number of workers has been hired,output increases by less and less with each additional worker hired? Illustrateyour answer with an example....