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Increasing returns to scale and decreasing returns to scale:
Increasing returns to scale occur when increases in all inputs by a certain percentage cause a relatively higher percentage increase in output or total product. For instance when units of capital and labour are doubled (i.e. 100% increase in scale of production) if output more than doubles (say increase by 150%), then the firm is experiencing increasing returns to scale.On the other hand, decreasing returns to scale occur when the scale of production of a firm is increased by a certain percentage, output or total product increases by less than the given percentage. The total product indeed becomes larger but does so at a lower rate than the rate of growth of all the inputs used in production. for instance, if a 100% rise in scale results in a lower than 100% rise in total product then the firm is experiencing decreasing returns to scale.
Which drug is likely to be the most profitable for its producer (in terms of average “per-drug” profit)?
Tuan lives in a town with only one movie rental store. Suppose Tuan’s demand for movie rentals per month is Q = 16- 2P . The movie store currently charges $5 per movie, but is thin
Question 1: Compare and contrast between perfect competition and monopoly. Which of the two types of market structures is efficient? Question 2: Prepare a short notes
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discus how opportunity cost influence supplier''s decision to supply labour
THEORY OF CUSTOMS UNION: A customs union is an association of two or more countries to encourage trade. The countries making such an arrangement agree to eliminate tariffs and
#question.theories of cost
using necessary and sufficient condition explain consumer surplus diagrammically and mathematically?
explain how microeconomic and macroeconomic issues may be represented using the production possibility curve
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