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How do you know if a firm faces the law of diminishing returns? ex. Mr. Weldon has a watermelon farm. The marginal cost of the 4th ton of watermelons is 600. The average total cost of producing 6 tons of watermelons = 866.66. The average variable cost of producing 6 tons of watermelon= 700. Does Mr. Weldon face the law of diminishing returns??Need help!
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