Illustrates the Law of Returns to scale
Illustrates the Law of Returns to scale?
Expert
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.
This is not true that the law of diminishing returns which it: (i) Consists applications in numerous areas outside economics. (ii) Is encountered in many ways in economics. (iii) Implies that continually increasing production ultimately entails increa
Signaling: (w) attempts to finesse adverse selection. (x) involves behavior by agents to communicate special qualifications which will elicit the offer of a contract from a principal. (y) refers to potential employees obtaining skills, education or ex
Illustrates the fundamental characters of human existence given by Lionel Robbins?
Illustrates the managerial Economics according to Spencer and Siegleman?
Illustrates the real concept briefly?
Screening and signaling are attempts to: (w) decreases job interview time. (x) decrease the problem of adverse selection. (y) uphold equal opportunity laws. (z) All of the above. I need a good answer on the topic o
demand function is: QY = -8,000 - 5,000PY + 192A + 120I + 2,000PX (6,000) (1,000) (120) (80) (800) R2 = 91% Here QY is quantity (measured in units) of Product Y demanded in the current period, A is hundreds of dollars of advertising ($00), I is thousands of dollars of disposable income per ca
Explain the term average fixed cost.
A personal supply of labor is exemplified by an income effect which dominates the substitution effect if: (w) Trina retires to a beach condo after working for the city for 42 years. (x) members of a rock band give up touring for a yea
Refer to figure as in above. What occurs when the firm produces more than Q4 units: w) Its profit raises. x) this makes a loss. y) Its total revenue is increasing quicker than its whole cost. z) this could make a profit or a loss depending upon what occurs
18,76,764
1927502 Asked
3,689
Active Tutors
1456463
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!