Question

What is Increasing returns to a factor..???​

Answer 1

Answer:

Increasing returns mean lower costs per unit, just as diminishing returns mean higher cost. Thus the Law of Increasing Returns signifies that cost per unit of the marginal or additional output falls with the expansion of an industry.

Answer 2

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• Increasing returns mean lower costs per unit, just as diminishing returns mean higher cost. Thus the Law of Increasing Returns signifies that cost per unit of the marginal or additional output falls with the expansion of an industry.

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