Production and cost — Economics STD 12 Humanities & Commerce — Question
Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsProduction and cost1 Mark
Question
Give meaning of increasing returns to a factor.
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Answer
Increasing returns to a factor means TP increases at an increasing rate, i.e., MP rises because of more effective utilisation of fixed inputs by the variable input.
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