Business
Business, 06.12.2021 19:30, 1846252

A manufacturing company had been under pressure to increase profits, so it began to produce additional goods. The company was encouraged by the initial increases in revenue, even though profits per item produced were lower than average. Still, total profits increased, so the company decided to make another significant increase in production. This time, however, the profit per item had decreased so much that the company made almost no extra profit from the increase in production. This situation illustrates what concept? A. Law of diminishing returns B. Productivity analysis C. Cross-training D. Comparative advantage

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A manufacturing company had been under pressure to increase profits, so it began to produce addition...

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