Q.

Long run theory of production is known as ----

A. law of variable proportion
B. law of diminishing returns
C. law of returns to scale
D. none of the above
Answer» A. law of variable proportion
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SM

Srija Mishra
2 years ago

Please don't misguide the students of economics. Long run theory of production is Law of return to scale. And not law of variable proportion (it is related to short run analysis of theory of production.) Please correct it.
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