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1.4.3 The law of diminishing returns and returns to scale (A-level only)
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Short Run, Long Run and Product Measures

Short Run, Long Run and Product Measures

The short run is a period in which at least one factor of production is fixed. The long run is a period in which all factors of production are variable, so the firm can change the scale of everything it uses.

1.4.3 The law of diminishing returns and returns to scale (A-level only) Lesson

  1. A Level
  2. /Economics
  3. /1.4.3 The law of diminishing returns and returns to scale (A-level only)

Step-by-step lessons covering AQA A Level Economics 1.4.3 The law of diminishing returns and returns to scale (A-level only) for A Level Economics. Each lesson works through exam-style questions in Paper 1, Paper 2 and Paper 3 format. Start with the core supply-and-demand models before moving on to the more evaluation-heavy macroeconomic policy topics.