Economy, asked by neyiren718, 10 months ago

In constant proportion type production scale of output (changes/does not change)

Answers

Answered by AnmolRaii
3

IT CHANGES BECAUSE BY KNOWING THE LAWS OF CONSTANT PRODUCTION:

The laws of production describe the technically possible ways of increasing the level of production. Output may increase in various ways.

Output can be increased by changing all factors of production. Clearly this is possible only in the long run. Thus the laws of returns to scale refer to the long-run analysis of production.

In the short run output may be increased by using more of the variable factor(s), while capital (and possibly other factors as well) are kept constant.

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