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My loose definition of constant returns to scale:
Constant returns to scale occur when a given increase in output is brought about by the same proportional increase in returns.
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∙ 14y ago
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Difference between returns to scale and constant return to scale?
differentiate between returns to scale and constant return to scale
What is the law of returns to scale?
THE LAW OF RETURNS TO mean that law in which we study about the different period of the production in which increasing , decreasing , and constant returns to scale is studied
What is the difference between diminishing returns and diseconomies of scale?
The principle of diminishing marginal returns to inputs is when more on one input is added, while other inputs are held constant, the marginal product of the input diminishes. Diseconomies of scale or decreasing returns to scale is when the a firm doubles its inputs, output increases by less than double. With diminishing returns, only one input is being changed while holding the other is fixed. But for decreasing returns, both inputs may change
If there are constant returns to scale what would the production function be written as?
Y/l = a f(1,k/l,h/l,n/l)
Distinguish between law of diminishing returns and laws of returns to scale?
The principle of diminishing returns to inputs is when more on one input is added, while other inputs are held constant, the marginal product of the input diminishes. Decreasing returns to scale is when the a firm doubles its inputs, output increases by less than double. With diminishing returns, only one input is being changed while holding the other is fixed. But for decreasing returns, both inputs may change
Difference between returns to scale and constant return to scale?
differentiate between returns to scale and constant return to scale
What are the Types of Returns to scale?
Economies of scale (costs decrease), diseconomies of scale (costs increase), constant returns to scale (costs stay the same)
What is the law of returns to scale?
THE LAW OF RETURNS TO mean that law in which we study about the different period of the production in which increasing , decreasing , and constant returns to scale is studied
Define economies of scale How does this relate to returns to scale Cite and briefly discuss the main determinants of economies of scale?
Cite and briefly discuss the main determinants of economies of scale.
When a long-run average cost curve is flat the production process is subject to what?
constant returns to scale
What is the meaning of Constant returns to scale?
When a firm doubles its inputs, outputs also double. The increase in output is exactly proportionate to the increase in inputs
What is the difference between diminishing returns and diseconomies of scale?
The principle of diminishing marginal returns to inputs is when more on one input is added, while other inputs are held constant, the marginal product of the input diminishes. Diseconomies of scale or decreasing returns to scale is when the a firm doubles its inputs, output increases by less than double. With diminishing returns, only one input is being changed while holding the other is fixed. But for decreasing returns, both inputs may change
If there are constant returns to scale what would the production function be written as?
Y/l = a f(1,k/l,h/l,n/l)
Distinguish between law of diminishing returns and laws of returns to scale?
The principle of diminishing returns to inputs is when more on one input is added, while other inputs are held constant, the marginal product of the input diminishes. Decreasing returns to scale is when the a firm doubles its inputs, output increases by less than double. With diminishing returns, only one input is being changed while holding the other is fixed. But for decreasing returns, both inputs may change
How do you define constant?
Constant means an ongoing situation or thing.
Rns to scale?
The principle of diminishing marginal returns to inputs is when more on one input is added, while other inputs are held constant, the marginal product of the input diminishes. Decreasing returns to scale is when the a firm doubles its inputs, output increases by less than double. With diminishing returns, only one input is being changed while holding the other is fixed. But for decreasing returns, both inputs may change
How do you define a constant in PHP?
You can define a constant using the define() directive.you can use this a number of ways;to define a variable to a constant do:$string = "hello";define("string",$string);to define a string to a constant use:define("hello","there");to define a integer or other numerical value use:define("number",1.0);Summery:to define a string use quotes as you would do a string.Unlike variables in PHP a constant cannot be changed or undefined once it is defined. Constant remains automatically globally throughout the script. It means that it can be accessed from inside a function. e.g.
