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An increase in the scale means that all inputs or factors are increased in a given proportion. Increase in the scale thus occurs when all factors or inputs are increased keeping factor proportions unaltered. The study of changes in output as a consequence of change in the scale forms the subject – matter of retunes to scale.
What are the basic analytical frameworks of modern economics? The fundamental analytical framework of modern economics: The fundamental analytical framework for an econom
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Evaluating the Gains and Losses from the Policies of Government: Consumer and Producer Surplus * Review - Consumer surplus is total benefit or value which consumers rece
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If I submit an economics problem(Home work), How soon it will be answered?
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