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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.
ExplainBainlimitpricetheory
Dependence on agricultural production: Dependence on agricultural production and primary product for exports. The external sector comprises Imports and Exports, Ghana shows de
In this part, use the results for market demand for short-run and long run market supply of good x1 obtained in parts one and two. When a change (e.g. income or taxes) is introduce
1. The figure below is historical production data from the Kuparuk River field. The OOIP is 5,332,979 Mstb and cumulative recovery through 12/31/2004 is 1,971,200,654 stb.
What are corrective taxes? Why do economists prefer them to regulations as a way to protect the environment from pollution. Discuss
Determinants of Private Demand - Non-Monetary Benefits Social status associated with university degrees is a determinant of investment decisions in higher education in the cas
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1. Consider the consumption decisions of R.B. Turbo, a new student at Teachers College, Columbia University. Ms. Turbo has only available $1,000 in monthly income to spend on food
uses of time series in indian economy
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