Explain the term returns to scale, Microeconomics

Assignment Help:

An increase in the scale means that all inputs or factors are increased in a given proportion. Increase in the scale thus occurs when all factors or inputs are increased keeping factor proportions unaltered.  The study of changes in output as a consequence of change in the scale forms the subject – matter of retunes to scale.


Related Discussions:- Explain the term returns to scale

Production theory, why does gap between the ATC curve and the AVC curve dec...

why does gap between the ATC curve and the AVC curve decreases as the level of output increases

Economics final paper analysis, This is what this paper should be about ...

This is what this paper should be about 1) In the first paragraph analyze what you most learned from the course to reflect on the statement below. 2) In each separat

Determine the optimal price, The largest public utility company in New Sout...

The largest public utility company in New South Wales (NSW) is the sole provider of electricity across all regions in the state. The monthly demand for electricity in NSW is given

Select demand schedule and a supply schedule for apples, •Create a demand s...

•Create a demand schedule and a supply schedule for your product.. •Using these schedules, draw a demand curve and a supply curve using PowerPoint or Excel. Use these to determine

Average fixed cost, Average Fixed Cost (AFC): AFC is the fixed cost per uni...

Average Fixed Cost (AFC): AFC is the fixed cost per unit of output. AFC = TFC/y Since the TFC is constant throughout the short run, as y increases AFC will decline. Therefore

Describe labour market segmentation, Q. Describe Labour Market Segmentation...

Q. Describe Labour Market Segmentation? Labour Market Segmentation: Deep and systematic differences among various groups of workers, in which different types of workers are eff

Employee ownership stock plan (esop), A trust is build to acquire shares in...

A trust is build to acquire shares in organizations for subsequent allocation to employees over time by time.

Axioms - consumer choice involving risk, Axioms: It is possible to con...

Axioms: It is possible to construct a utility index which can be used to predict choice in uncertain situations if the consumer conforms to the following five axioms:  • A

Disposable income, what is disposable income and its importance.

what is disposable income and its importance.

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