Question

During which phase in the process must a firm allocate its factors of production?

Answer 1

Hello there.

During which phase in the process must a firm allocate its factors of production?

increasing average product production

Answer 2

In economics, the three stages of production are increasing average product production, decreasing marginal returns and negative marginal returns. It would be during the first stage that a firm must allocate its factors of production. Hope this answers the question.