Increasing return to a factor
Describe the likely behaviour of total product beneath the phase of increasing return to a factor.
Expert
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.
Fiscal deficit: When TE (RE + CE) > TR (RR + CR) of the government, excluding borrowing. It is termed as fiscal deficit.
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The areas illustrates in this Lorenz diagram can be used to compute a Gini index as: (i) (cow + pig)/cow. (ii) cow2/(cow + pig). (iii) pig2/(cow + pig). (iv) cow/(cow + pig) (v) (cow + horse)/pig. Discover Q & A Leading Solution Library Avail More Than 1440714 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1944636 Asked 3,689 Active Tutors 1440714 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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