Illustrates the Law of Returns to scale
Illustrates the Law of Returns to scale?
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In the long run all the factor of production is variable and an increase in output is possible by raising all the inputs. The Law of Returns to scale illustrates the technological relationship in between changing scale of output and input. The law of returns of scale describe how a simultaneous and proportionate raise in all the inputs influences the total output. The rise in output may be proportionate, less than proportionate or more than proportionate. If the rise in output is proportionate to the raise in input, this is constant Returns to scale. If this is less then proportionate this is diminishing returns to scale. The rising return to the scale comes first, and after that constant and at last diminishing returns to scale happens.
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Boris operates a local landscaping company, needs each potential employee to lift a 200 pound tree before being hired whole-time. This obligation is an example of: (1) signaling. (2) discrimination. (3) screening. (4) derived demand. (5) automation. Q : Income effect at a wage rate The The substitution effect of a small change within the wage rate for this worker most strongly goes beyond the income effect at a wage rate of: (1) $5 per hour. (2) $10 per hour. (3) $10 per hour to $25 per hour. (4) $2
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After vacationing hundreds of restaurants, then a restaurant critic has concluded which in almost all the workers who clear tables and also wash dishes appear to be illegal aliens by Mexico. The critic has observed a phenomenon termed as: (1) marginalized labor. (2) t
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