- Increasing returns to scale. - Decreasing returns to scale. - Constant returns to scale. Economics and Production: The purpose of firms is to find out how best to produce goods that consumers want. The failure to produce goods at a cost below the value consume...
decreasing returns to scale 规模报酬递减 theory of decreasing returns 生产报酬递减论 law of returns 【经】 报酬法则 law of decreasing cost 费用递减法则 law of nonproportional returns 报酬非比例法则 law of diminishing returns 享受递减律,报酬递减律,减少补偿定律 law of diminishing returns of...
Returns to scale Returns to scale come into role when all the factors of production become variable in the long run. It shows the relationship between the quantity of output produced with respect to the quantity of input undertaken in the factors of production in the...
In a Keynesian cross diagram, an increase in government spending G will shift the planned expenditure line down and decrease the equilibrium level of output. True False Explain. Increasing returns to scale occur when a firm's average costs of production i...
What are the differences between diminishing marginal utility and decreasing returns to scale? What is a simple definition for marginal value? What is the meaning of diminishing, constant, and increasing marginal utility of money? When consumption increases, why does marginal utility decrease?
In a Keynesian cross diagram, an increase in the marginal propensity to consume (MPC) will decrease the equilibrium level of output. True False Explain. True or false. The U shape of the long-run ATC curve results from diminishing returns. True or false? ...
Using a Lorenz curve diagram, explain how to calculate the Gini coefficient with a specific example. What would the LRATC curve look like if there were always constant returns to scale? Explain your answer. Which of the following is incorr...