What is Increasing Returns to scale
What is Increasing Returns to scale?
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While proportionate increase in all factor of production results within a more than proportionate raise in output and it results first stage of production that is termed as increasing returns to scale. Marginal output rises at this stage. Higher degree of specialization and falling cost and so on will lead higher efficiency that result increased returns in the very initial stage of production.
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The knowledge gained while an Apple employee learns a specialized technique on an iPod assembly line is an illustration of: (w) comparative technological advantage. (x) specific training. (y) on-the-job leveraging. (z) general training. Discover Q & A Leading Solution Library Avail More Than 1420691 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1936898 Asked 3,689 Active Tutors 1420691 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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