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प्रश्न
What is meant by long-run production functions?
लघु उत्तर
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उत्तर
A company may eventually alter all of its inputs in accordance with its scale. We call this returns to scale. In this instance, a manufacturer modifies every production element by the same amount. Therefore, the Law of Returns to Scale refers to the proportionate relationship between production and factors of production. The evidence is shown in the following figure.
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