write the difference between return to a scale and return to a factor
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- Returns to a factor studies the behavior of output when more and more units of the variable factor is combined with the fixed factor.
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Answer: Returns to a factor studies the behavior of output when more and more units of the variable factor is combined with the fixed factor. Whereas the returns to scale studies the behavior of output when the scale of output changes. Here scale changes but the factor ratio remains constant.
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