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.
What will be the consequence of a rise or fall in the bank rate on money supply? Answer: It will reduce or raise the money supply.
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What is capital markets efficiency?
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