Question

Which can help a producer in determining how much of a product is required to be produced?

A Factor-Product Relationship Correct Answer Incorrect Answer
B Law of Increasing Returns Correct Answer Incorrect Answer
C Factor-Factor Relationship Correct Answer Incorrect Answer
D Law of Constant Returns Correct Answer Incorrect Answer

Solution

The objective of factor-product relationship is to determine the optimum quantity of the variable input that will be used in combination with fixed inputs in order to produce optimal level of output .

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