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The Workers

Proportional ...

Question

Proportional relations between production and factors of production in the long run are called __________.

[1 mark]

A

returns to a factor

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B

returns to scale

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C

both A and B

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D

none of the above

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Solution

The correct option is B returns to scale
Returns to a factor is associated with short-run production. Returns to scale are related to long-run production.

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Q. If all the factors of production are increased by the same proportion, and as a result the output increases by a greater proportion, then it is called:

[1 mark]

Q. A long run analysis of production is called ______________.

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In the long run, a firm must cover all costs of production.

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