MICROECONOMICS CH : 7 PRODUCTION FUNTION AND RETURNS TO A FACTOR — Economics STD 11 Commerce — Question
CBSE BoardEnglish MediumSTD 11 CommerceEconomicsMICROECONOMICS CH : 7 PRODUCTION FUNTION AND RETURNS TO A FACTOR1 Mark
Question
What is meant by returns to a factor?
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Answer
Returns to a factor refers to the behaviour of physical output owing to change in physical input of a variable factor, fixed factors remaining constant.
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