Advanced Placement (AP), 14.01.2021 19:30 RIZGT500

Assume a restaurant hires an additional chef who is as qualified as the current chefs. As a result, the level of output increases but by a smaller amount than when the previous additional chef was hired. Which of the following best explains this occurrence? a. The law of diminishing marginal utility
b. The law of diminishing returns
c. Economies of scale
d. Predatory pricing

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Assume a restaurant hires an additional chef who is as qualified as the current chefs. As a result,...