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What is the difference between variable proportions and returns to scale?
Wiki User
∙ 11y ago
what is relationship between change in input and output.
In the return's to scale (long term concept) all the factor are variable but in the variable proportions are some factor variable and some factors are fixed.
Wiki User
∙ 11y 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
Explain with diagram the law of variable proportion?
Sometimes referred to as the law of diminishing returns, the law of variable proportions is concerned with the effect of changes in the proportion of the factors of production used to produce output. As the proportion of one input increases relative to all other inputs, at some point there will be decreasing marginal returns from that input. Adding more units of an input, holding all other inputs constant, will at some point cause the resulting increases in production to decrease, or equivalently, the marginal product of that input will decline. Among the inputs held constant is the level of technology used to produce that output. This is an empirical law and is therefore a generalization about the nature of the production process and cannot be proven theoretically (see Friedman, 1976; Stigler, 1966). Applied to management, Friedman argues that the law of variable proportions requires firms to produce by using inputs in such proportions that there are diminishing average returns to each input in production.
Explain how the diminishing returns influences the shape of the variable cost and total cost curves?
how diminishing returns influences the shapes of the variable-cost and total-cost curves
What are increasing marginal returns?
ncreasing marginal returns mean that marginal product is greater for each subsequent unit of a variable input than it was for the previous unit. Decreasing marginal returns, as such, mean that marginal product is less for each subsequent unit of a variable input than it was for the previous unit.
What is law of returns explain it with the help of schedule and diagram?
returns to factor means change in physical output of a good or a commodity when the quantity demanded of one factor is increase while that of the other factors remain constant . It is a short run phenomenon and can be possible in three ways they area) Increasing return to factor - increasing returns to a factor refers to a situation on when each additional unit of a variable factor adds more and more to the total output that is when marginal product of a factor increases as more of the variable factor is constantb) constant returns to a factor - constant returns to a factor refers to a situation in which additional units of a variable factors adds the same amount of output that is when the marginal product of the variable factor is constantc) Diminishing returns to a factor refers to a situation in which each additional unit of a variable factor adds lesser and lesser amount of output that is when marginal product of a factor falls as more of it is used
What is the connection between marginal returns and variable costs?
they are usually inversly proportional
Difference between returns to scale and constant return to scale?
differentiate between returns to scale and constant return to scale
Explain with diagram the law of variable proportion?
Sometimes referred to as the law of diminishing returns, the law of variable proportions is concerned with the effect of changes in the proportion of the factors of production used to produce output. As the proportion of one input increases relative to all other inputs, at some point there will be decreasing marginal returns from that input. Adding more units of an input, holding all other inputs constant, will at some point cause the resulting increases in production to decrease, or equivalently, the marginal product of that input will decline. Among the inputs held constant is the level of technology used to produce that output. This is an empirical law and is therefore a generalization about the nature of the production process and cannot be proven theoretically (see Friedman, 1976; Stigler, 1966). Applied to management, Friedman argues that the law of variable proportions requires firms to produce by using inputs in such proportions that there are diminishing average returns to each input in production.
Explain how the diminishing returns influences the shape of the variable cost and total cost curves?
how diminishing returns influences the shapes of the variable-cost and total-cost curves
What is the difference between near and far procedure in 8086 microprocessor?
Near calls and returns transfer control between procedures in the same code segment. Far calls and returns pass control between different segments.
What is the difference between returns and profit?
return is calculate against investment. profit is calculte against cost.
When function returns a value the entire function call can be assigned a variable?
AnswerYes, it can. For instance, if your function returns double you can assign the function call to a variable of type double.AnswerNo, only the returned value, of course.
What is difference between echo and ' ' in unix?
Echo is a program. '' is not a program. '' does not perform any action. Echo returns what you type. '' does not.
What are increasing marginal returns?
ncreasing marginal returns mean that marginal product is greater for each subsequent unit of a variable input than it was for the previous unit. Decreasing marginal returns, as such, mean that marginal product is less for each subsequent unit of a variable input than it was for the previous unit.
What is the difference between controlled variable?
Variables define a certain value, such as an integer, string, boolean value, etc. Functions are defined to run a certain task, and may or may not return a value. You can have a function that calculates the sum of two numbers and returns the sum once calculated.
What is the difference between the PMT and PPMT functions in Excel?
The PPMT function returns the amt. of interest in a specified instalment number whereas the PMT function returns the amt. of interest in every EMI payment.
A Explain the need of built-in functions in Visual Basic List out the various built in functions that are 1 Explain architecture of Distributed Database systems?
A function that is built into an application and can be accessed by end-users.A function is similar to a normal procedure but the main purpose of the function is to accept a certain input from the user and return a value which is passed on to the main program to finish the execution. There are two types of functions, the built-in functions (or internal functions) and the functions created by the programmers. he general format of a function isFunctionName (arguments) The arguments are values that are passed on to the function.Built -in function are classified under following categories * Math Functions * Conversion Functions * String Functions * Date and Time Functions * Array Functions * Misc. FunctionsMath Functions * Abs(vNumber) - Returns the absolute value of a specified number * Atn(vNumber) - Returns the arctangent of a specified number * Cos(vNumber) - Returns the cosine of a specified number (angle) * Exp(vPower) - Returns e raised to a power * Hex(vNumber) - Returns the hexadecimal value of a specified number * Int(vNumber) - Returns the integer part of a specified number * Fix(vNumber) - Returns the integer part of a specified number * Log(vNumber) - Returns the natural logarithm of a specified number * Oct(vNumber) - Returns the octal value of a specified number * Rnd() - Returns a random number less than 1 but greater or equal to 0 * Sgn(vNumber) - Returns an integer that indicates the sign of a specified number * Sin(vNumber) - Returns the sine of a specified number (angle) * Sqr(vNumber) - Returns the square root of a specified number * Tan(vNumber) - Returns the tangent of a specified number (angle) Conversion Functions * CBool(vVariant) - Converts an expression to a variant of subtype Boolean * CByte(vVariant) - Converts an expression to a variant of subtype Byte * CCur(vVariant) - Converts an expression to a variant of subtype Currency * CDate(vVariant) - Converts a valid date and time expression to the variant of subtype Date * CDbl(vVariant) - Converts an expression to a variant of subtype Double * CInt(vVariant) - Converts an expression to a variant of subtype Integer * CLng(vVariant) - Converts an expression to a variant of subtype Long * CSng(vVariant) - Converts an expression to a variant of subtype Single * CStr(vVariant) - Converts an expression to a variant of subtype StringString Functions * InStr(sString, sSubString) - Returns the position of the first occurrence of one string within another. The search begins at the first character of the string * InStrRev(sString, sSubString) - Returns the position of the first occurrence of one string within another. The search begins at the last character of the string * LCase(sString) - Converts a specified string to lowercase * Left(sString, iLen) - Returns a specified number of characters from the left side of a string * Len(sString) - Returns the number of characters in a string * LTrim(sString) - Removes spaces on the left side of a string * RTrim(sString) - Removes spaces on the right side of a string * Trim(sString) - Removes spaces on both the left and the right side of a string * Mid(sString, iStart, iLen) - Returns a specified number of characters from a string * Replace(sString, sOld, sNew) - Replaces a specified part of a string with another string a specified number of times * Right(sString) - Returns a specified number of characters from the right side of a string * Space(iLen) - Returns a string that consists of a specified number of spaces * StrComp(sString1, sString2) - Compares two strings and returns a value that represents the result of the comparison * String(iLen, sChar, iLen) - Returns a string that contains a repeating character of a specified length * StrReverse(sString) - Reverses a string * UCase(sString) - Converts a specified string to uppercase * Asc(sString) - Converts the first letter in a string to ANSI code * Chr(iInteger) - Converts the specified ANSI code to a character Date and Time Functions * CDate(vVariant) - Converts a valid date and time expression to the variant of subtype Date * Date() - Returns the current system date * DateAdd(sType, iInterval, tDate) - Returns a date to which a specified time interval has been added * DateDiff(tDate1, tDate2) - Returns the number of intervals between two dates * DatePart(sType, tDate) - Returns the specified part of a given date * DateSerial(iYear, iMonth, iDate) - Returns the date for a specified year, month, and day * DateValue(vVariant) - Returns a date * Day(tDate) - Returns a number that represents the day of the month (between 1 and 31, inclusive) * FormatDateTime(tDate, iType) - Returns an expression formatted as a date or time * Hour(tDate) - Returns a number that represents the hour of the day (between 0 and 23, inclusive) * IsDate(vVariant) - Returns a Boolean value that indicates if the evaluated expression can be converted to a date * Minute(tDate) - Returns a number that represents the minute of the hour (between 0 and 59, inclusive) * Month(tDate) - Returns a number that represents the month of the year (between 1 and 12, inclusive) * MonthName(iMonth) - Returns the name of a specified month * Now() - Returns the current system date and time * Second(tDate0 - Returns a number that represents the second of the minute (between 0 and 59, inclusive) * Time() - Returns the current system time * Timer() - Returns the number of seconds since 12:00 AM * TimeSerial(iHour, iMinute, iSecond) - Returns the time for a specific hour, minute, and second * TimeValue(tDate) Returns a time * Weekday(tDate) - Returns a number that represents the day of the week (between 1 and 7, inclusive) * WeekdayName(iWeekDay) - Returns the weekday name of a specified day of the week * Year(tDate) - Returns a number that represents the yearArray Functions * Array(vArg1, vArg2, ...) - Returns a variant containing an array * IsArray(vVariant) - Returns a Boolean value that indicates whether a specified variable is an array * Join(aArray) - Returns a string that consists of a number of substrings in an array * LBound(aArray) - Returns the smallest subscript for the indicated dimension of an array * Split(sString, sDelimiter) - Returns a zero-based, one-dimensional array that contains a specified number of substrings * UBound(aArray) - Returns the largest subscript for the indicated dimension of an arrayMisc. Functions * IsArray(variable) - Returns True if the specified variable is an array * IsDate(variable) - Returns True if the specified variable can be converted to a date * IsEmpty(variable) - Returns True if the specified variable is Empty * IsNull(variable) - Returns True is the specified variable is Null * IsNumeric(variable) - Returns True if the specified variable can be converted to a number * IsObject(variable) - Returns True if the specified variable is an object * TypeName(variable) - Returns the type name of the specified variable * VarType(vVariant) - Returns the type code of the specified variable
