If units of a variable factor are increasingly added to a fixed factor and the m...
Question
If units of a variable factor are increasingly added to a fixed factor and the marginal physical product keeps increasing, production is said to be taking place under conditions of?Options
A)
increasing returns to the variable factor
B)
increasing returns to scale
C)
constant returns to variable factor
D)
external economies of scale
Related Lesson: Marginal Productivity Theory | Factors of Production
The correct answer is A.
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