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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Resources tend to flow toward industries in the long run along with: (w) lower profits for typical firms. (x) more profit for typical firms. (y) lower payments to most resource owners. (z) more stable rates of technological change. Discover Q & A Leading Solution Library Avail More Than 1453834 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1947299 Asked 3,689 Active Tutors 1453834 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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