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.
Define the term cost plus pricing.
State the laws of production.
When, for a perfectly competitive firm that price exceeds the marginal cost of production then the firm must: w) raise its output. x) reduce its output. Y) keep output constant and enjoy the above normal profit. z) lower the price.
What are the important areas of decision-making?
Most economists would categorize the bulk of the funds spent upon your college education like: (1) an investment in human capital. (2) financial capitalization. (3) consumption. (4) specific training. (5) personal saving. Please gu
Write down the features of Marginal costing?
States the Welfare Definition in economics?
For labor Plastibristle’s demand for labor is least wage elastic at: (i) point a. (ii) point b. (iii) point c. (iv) point d. Q : Explain the Opinion Survey method of Explain the Opinion Survey method of Demand Forecasting.
Explain the Opinion Survey method of Demand Forecasting.
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