Define the returns to scale in production technology, Microeconomics

Assignment Help:

Define the returns to scale in production technology.

Returns to scale in production technology:

Assume that we are using some vector of inputs x to generate some output y and we choose to scale all inputs up or down through some amount t = 0. What will occur to the level of output? The concepts of returns to scale can be used to answer this problem. Returns to scale consider to how output responds while all inputs are varied in similar proportion so that they consider long run production processes.


Related Discussions:- Define the returns to scale in production technology

Explain about social-democracy, Q. Explain about Social-Democracy? Soci...

Q. Explain about Social-Democracy? Social-Democracy:It's a reformist political strategy that aims to win certain improvements in social and economic conditions under capitalism

Cost sharing in higher education - graduate tax, Cost Sharing in Higher Edu...

Cost Sharing in Higher Education - Graduate Tax Another commonly suggested measure is to tax the employers employing educated manpower. The case for this method is made on the

Past tense poem of a chemical element, Which element of the periodic table ...

Which element of the periodic table has the most characteristics and is used in everyday life?

Types of unemployment, Types of unemployment: Frictional Unemployment...

Types of unemployment: Frictional Unemployment: -It refers to unemployment caused by changes in individual labour markets.This is the type of unemployment resulting from peop

Determine the productivity level of us, Determine the productivity level of...

Determine the productivity level of US Those who live in relatively poor regions of the world today have higher material living standards than their predecessors who lived in t

Private property regime , Normal 0 false false false EN...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Proportion of income spent for the commodity , All other things equivalent,...

All other things equivalent, the higher the proportion of income spent for the commodity more price elastic will be the demand.   Most home owners are recognizable with how this de

Egyptian Labor Market.., How to use Demand and Supply tools to analyze the ...

How to use Demand and Supply tools to analyze the case of the Egyptian labor market?

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd