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What is returns to scale in economics?
Returns to scale refer to a special relationship between output and input. During production, this relationship refers to the connection between the changes that occur with the output and those that began in the input.
What is output in economics?
Potential output is the capacity to produce should all factors be employed in an economy. For example, it is the output should there be no unemployment, no spare labour and no spare capital. It is unlikely that actual output will be the same as potential ouput since there is always unemployment.
When demand for a factor of production depends on the demand for the product produced?
Input determines the quantity of output Ex. output depends upon input. Input is the starting point and output is the end point of production process and such input-output relationship is called a production function. All factors of production like land, labor, capital and technology are required in combination at a time to produce a commodity. In economics, production means creation or an addition of utility. Factors of production (or productive 'inputs' or 'resources') are any commodities or services used to produce goods or services
What is productive efficiency in economics?
Productive efficiency (also known as technical efficiency) occurs when the economy is utilizing all of its resources efficiently, producing most output from least input
Is a mouse an input or output?
A computer mouse is an input device
What is returns to scale in economics?
Returns to scale refer to a special relationship between output and input. During production, this relationship refers to the connection between the changes that occur with the output and those that began in the input.
Is an OMR an input or output?
is an omr and input or output device?
Is interactive whiteboard an input or output device?
both input r output
Is a graphic tablet output or input?
Input device.
Is a projector input or output?
it is an output device
What is the input to output ratio formula?
output/input
Is Digitizing Pad is an input or an output?
output and input
Is a CPU input or output?
Neither, it is not classified under input or output. It has its own identity
What is the difference between input and output?
What is the difference between output and input?If you sing into a microphone you can hear the microphone's output.Sound coming out of the power amp to the speakers.That is the input of the loudspeaker.Do you see the difference?Your voice is the microphone's input. Its output is electrical impulses that are input to the amplifier. The amplified impulses are the output of the amplifier and input to the speaker. Sound waves are output of the speaker and input to your ears.
Is a robotic arm an input or output device?
Input
What is a comparison of a machine's work output and work input?
Output is always greater than input. The output is multiplied from input.
What is the formula of each simple machine by getting the work exerted by the machine?
The formula for work exerted by each simple machine is: Lever: Work = Input force × Input distance = Output force × Output distance Inclined plane: Work = Input force × Input distance = Output force × Output distance Pulley: Work = Input force × Input distance = Output force × Output distance Wheel and axle: Work = Input force × Input radius = Output force × Output radius Wedge: Work = Input force × Input distance = Output force × Output distance Screw: Work = Input force × Input distance = Output force × Output distance
