Economies of scale (costs decrease),
diseconomies of scale (costs increase),
constant returns to scale (costs stay the same)
The two types of scales typically printed on the meter face of an analog volt-ohm meter (VOM) are the voltage scale and the resistance scale. The voltage scale measures electrical potential difference in volts, while the resistance scale measures the opposition to current flow in ohms. Some VOMs may also include a current scale for measuring electric current in amperes, allowing for versatile testing capabilities.
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The toUpperCase() method returns the uppercase equivalent of a string.
A statement scale is a scale that makes a statement!! :) ;) :(
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differentiate between returns to scale and constant return to scale
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.
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
Types of scales are:Guttman ScaleThurston ScaleRating ScaleLikert Scale
AFC will decrease
Cite and briefly discuss the main determinants of economies of scale.
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.
Returns to scale refer to the change in output when all inputs are increased proportionally, while economies of scale refer to the cost advantages a firm gains as it increases its production levels. Returns to scale can impact a firm's production efficiency by affecting the overall output, while economies of scale can impact a firm's cost structure by reducing the average cost per unit as production increases.
Economies of scale refer to cost advantages that come from producing more units of a good or service, leading to lower average costs. Returns to scale, on the other hand, measure how output changes in response to a proportional increase in all inputs. In terms of production efficiency, economies of scale indicate that as production increases, costs per unit decrease, while returns to scale show how efficiently inputs are being utilized to increase output.
They are verbal scale, Linear Scale and fraction scale.
They are verbal scale, Linear Scale and fraction 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