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What is the difference between variable proportions and returns to scale?
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.
What key assumptions underlie the law of variable proportions in microeconomics?
The law of variable proportions, also known as the law of diminishing returns, is based on several key assumptions: first, that the production process involves at least one fixed input and one variable input; second, that the technology used in the production remains constant; and third, that inputs can be combined in varying proportions to produce different levels of output. Additionally, it assumes that the quality of the variable input remains unchanged while increasing the quantity of that input. These assumptions help explain how output changes as the quantity of a variable input is varied while keeping other inputs constant.
Is maintenance on production equipment a fixed variable or mixed cost?
fixed and variable
Is an Attorney's retainer a fixed or variable cost?
It is fixed in the short run, and variable in the long run
Is cloth used in drapery production a fixed cost?
Since the final product is the value added drapery, raw cloth is evidently an input. Further, it is clearly a variable input as its quantity utilized is derived from production targets. Simply, the cloth used in production will be treated as a variable cost. The fixed costs for this business would be those related to the plant and machinery used in the process, the factory overhead cost allocation and other cost of this nature, that are fixed regardless of the production level. All costs that vary with the production level will be variable costs. Sabdezar Ilahi
What is an input variable?
an input variable is an input variable
Explain the difference between variable input and fixed input?
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What is input variability?
an input variable is an input variable
In algebra I what is the input variable called?
The input variable is called the independent variable, and the ouput variable is called the dependent variable.
What is the input variable called in algebra?
the input variable is called the independent variable and the output variable is called the dependent variable.
What is the difference between variable proportions and returns to scale?
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.
Use in a sentence the word fixed input?
"use in a sentence the word fixed input" "use in a sentence the word fixed input"
What do you call a symbol that can represent a quantity?
VARIABLE. When this variable has a fixed number assigned to it and does not change, it is called a "fixed variable".
What key assumptions underlie the law of variable proportions in microeconomics?
The law of variable proportions, also known as the law of diminishing returns, is based on several key assumptions: first, that the production process involves at least one fixed input and one variable input; second, that the technology used in the production remains constant; and third, that inputs can be combined in varying proportions to produce different levels of output. Additionally, it assumes that the quality of the variable input remains unchanged while increasing the quantity of that input. These assumptions help explain how output changes as the quantity of a variable input is varied while keeping other inputs constant.
The difference between fixed and variable inputs?
difference between fixed and variable inputs
Is overtime pay fixed or variable?
Variable
Is freight in a variable of fixed cost?
Variable
