Explain how diminishing returns differ return to scale, Microeconomics

Assignment Help:

Explain how diminishing returns differ from diminishing returns to scale.

The answer should clearly distinguish among SR (one or more factors are fixed) and LR (where all factors are variable).

Diminishing returns (marginal returns) arise in the SR and diminishing returns to scale in the LR caused by for instance efficiency lags in ever-larger firms.

 


Related Discussions:- Explain how diminishing returns differ return to scale

What is the equilibrium quantity?, Supply and demand for a given type of MP...

Supply and demand for a given type of MP3 player are given by the following equations: P=980-1.5Qd P=20+0.9Qs

Find the elasticity of demand for a quantity, The demand curve for gasoline...

The demand curve for gasoline is P = 200 - 10Q. a.  Find the elasticity of demand for a quantity of 8. Does this number imply that quantity demanded is sensitive to price change

What do you meant by relative poverty, Q. What do you meant by Relative Pov...

Q. What do you meant by Relative Poverty? Relative Poverty: A measure of poverty based on an individual or family's relative income compared to overall average level of income

Decay toothbruch, What is the arc cross elasticity of demand between Stop d...

What is the arc cross elasticity of demand between Stop decay''s toothbrush and Decay fighter''s toothbrush? What does this indicate about the relationship between the two products

National income accounting, National income accounting: Final Goods: ...

National income accounting: Final Goods: Final goods are goods and services which are being purchased for final use and not for resale or further processing or manufacturing

What are the costs and difficulties of such an operation, What are the cost...

What are the costs and difficulties of such an operation? The direct costs are administrative, cooperative and storage costs, whereas the societal costs include misallocation,

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