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.
Illustrates the important question regarding the managerial economics?
Illustrates the economies of scale are categorization?
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Illustrates the responsibilities of managerial economists?
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State the assumptions of Law of Demand?
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