Discussion Post: Diminishing Marginal Productivity and the Supply Curve
a) In your own words, explain the law of diminishing marginal productivity. Be sure to mention why the law tends to hold in the short run.
b) Based on your readings this week, in your opinion which factors impact the supply curve for physicians the most? In your own words, explain how each factor impacts the supply curve.
The response must include a reference list. Using Times New Roman 12 pnt font, double-space, one-inch margins, and APA style of writing and citations.