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Returns to Scale in Carpet Industry
* The carpet industry has grown from the small industry to large industry with some large firms.
* Question
- Can the growth be illustrated by the presence of economies to scale?
* Are there economies of scale?
- Costs (or percent of cost)
* Large Manufacturers
- Increased in machinery and labor
- Doubling inputs has doubled output
- Economies of scale are there for large producers
* Small Manufacturers
- Small increases in scale have no impact on output
- Proportional increases in inputs proportionally increase output - Constant returns to scale for the small producers
pls i want to estimate a cost function for the data i coollected from a research on cassava production .i have the cost for each input and output but do not how to go abo0ut it.
Qdx=-30p+0.10+4pr+4t
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