CUET Economics 2025 13 May Shift 2 PYQs

When output increases with smaller proportion compare to increase in inputs, this return is called?

1. Decreasing Return to scale
2. Increasing Return to scale.
3. Constant Return to scale.
4. Incremental Productivity.

________ of an input is defined as the change in output per unit of change in the input when all other inputs are remain constant.

For the firm to continue to produce, in the long run, price must be greater than the average cost (p > AC) and in the short run, price must be greater than the ......