what is the definition of "Law of returns to scale" ( Microeconomics)?
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Heyaa folk,
Law of returns to scale
Statement :
The relationship between output and the scale of inputs in the long run when all the inputs are increased in the same proportion.
Hope it helps u :)
Law of returns to scale
Statement :
The relationship between output and the scale of inputs in the long run when all the inputs are increased in the same proportion.
Hope it helps u :)
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