Difference between law of variable proportions and law of returns to scale
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I think.....
The proportion of variable factors is greater than the quantity of fixed factors.
The law of returns to scale examines the relationship between output and the scale of inputs in the long-run when all inputs are increased in the same proportion.
______________________________________________________________
Hope it helps.....
The proportion of variable factors is greater than the quantity of fixed factors.
The law of returns to scale examines the relationship between output and the scale of inputs in the long-run when all inputs are increased in the same proportion.
______________________________________________________________
Hope it helps.....
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