Returns to factor . Why this law apply on industries in hindi
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The law of increasing return states that: "When more and more units of a variable factor is employed, while other factor remain fixed, there is an increase of production at a higher rate. ... The output increases at a rate higher than the rate of increase in the employment of variable factor.
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In economics, diminishing returns is the decrease in the marginal (incremental) output of a production process as the amount of a single factor of production is incrementally increased, while the amounts of all other factors of production stay constant. The law of diminishing returns states that in all productive processes, adding ... In this case the law also applies to ...
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