What is the LAW OF DIMINISHING RETURNS, and why is this law considered a short-run phenomenon
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"Because the law of diminishing returns assumes fixed inputs, this principle is a short-run, rather than a long-run concept". Explain.
According to John Maynard Keynes what economic phenomenon allows the aggregate demand to directly affect the national output or income in the short-run?
Sticky prices
Flexible prices
Constant returns to scale
Diminishing marginal returns