Increasing return to a factor
Describe the likely behaviour of total product beneath the phase of increasing return to a factor.
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Increasing return to a factor is the first level of Law of return to a factor. Whenever more and more units of a variable factor is joined with fixed factor up to a certain phase, the total physical product increases along with increasing rate.
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Demands for labor depend LEAST upon the levels of: (w) labor productivity. (x) technology as well as amounts of other resources employed. (y) demand for final products. (z) trade off among work (creating income) and leisure. Discover Q & A Leading Solution Library Avail More Than 1431011 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1951666 Asked 3,689 Active Tutors 1431011 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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