Unformatted text preview: This is the stage of Constant Marginal Returns (CMR) . From the third unit of variable input right upto the sixth unit there is a continuous fall in the marginal output produced. This is the stage of Diminishing Marginal Returns (DMR) . The three phases of productive activity together make up for the Law of Variable Returns....
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This note was uploaded on 11/26/2011 for the course ECONOMIC ec 201 taught by Professor - during the Fall '10 term at Montgomery.
- Fall '10