Define the returns to scale in production technology, Microeconomics

Assignment Help:

Define the returns to scale in production technology.

Returns to scale in production technology:

Assume that we are using some vector of inputs x to generate some output y and we choose to scale all inputs up or down through some amount t = 0. What will occur to the level of output? The concepts of returns to scale can be used to answer this problem. Returns to scale consider to how output responds while all inputs are varied in similar proportion so that they consider long run production processes.


Related Discussions:- Define the returns to scale in production technology

What is the price of a call option on stock, Consider an economy with three...

Consider an economy with three states. The following set of stocks is traded:   x 1 =(2,2,0)    x 2 =(1,0,3)  x 3 =(0,2,4). The t=0 prices of these stocks are given as follow

Competition and industry ., need to get assignment on income effect and sub...

need to get assignment on income effect and substuation effect how does increase in price of both comodity will affect the or show the new effect

Service levels in supply chain management, Service levels in Supply Chain M...

Service levels in Supply Chain Management Consider that a finished product is made up of five inventoried component parts. If the service level were 90 per cent or 0.9 for eac

Budget constraints, Budget Constraints   * The Budget Line - The budg...

Budget Constraints   * The Budget Line - The budget line indicates all the combinations of 2 commodities for which total money spent equals the total income. * The Budget

Implementation of economic policy, Implementation of economic policy: ...

Implementation of economic policy: On the ability of civil servants and Government to learn, Government must possess the following qualities to ensure implementation of econom

OLIGOPOLY, EXPLAIN KINKED DEMAND CURVE

EXPLAIN KINKED DEMAND CURVE

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd