Differentiate anticipated and unanticipated inflation, Microeconomics

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Differentiate anticipated and unanticipated inflation

What is the difference between anticipated and unanticipated inflation? How do they differ in their effects on economic agents? Does inflation have no effects on the economy if it is anticipated? Explain. Explain how the law of diminishing marginal returns is related to the per-worker production function.

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Microeconomics: Differentiate anticipated and unanticipated inflation

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