Economics · Production Theory

If total production increases at an increasing rate with the increase in a variable factor, it represents the:

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Law of constant returns
2Law of diminishing returns
3Law of increasing returns✓
4Law of supply of production

Correct answer

Law of increasing returns

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If total production increases at an increasing rate with the increase in a variable factor, it represents the:

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If total production increases at an increasing rate with the increase in a variable factor, it represents the:

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