Question
What is meant by returns to a factor? Explain.
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|
Commodity
|
Base Year
|
Current Year
|
||
|
Price (₹)
|
Quantity
|
Price (₹)
|
Quantity
|
|
|
A
|
10
|
30
|
12
|
50
|
|
B
|
8
|
15
|
10
|
25
|
|
C
|
6
|
20
|
6
|
30
|
|
D
|
4
|
10
|
6
|
20
|
| Output (Units) | 1 | 2 | 3 |
| MC (₹) | 20 | 16 | 12 |
|
X
|
f
|
|
Less than 10
|
5
|
|
Less than 20
|
15
|
|
Less than 30
|
55
|
|
Less than 40
|
75
|
|
Less than 50
|
100
|
| X | 19 | 24 | 12 | 23 | 19 | 16 |
| Y | 9 | 22 | 20 | 14 | 22 | 18 |