Top Posters
Since Sunday
e
4
h
4
h
4
m
3
d
3
B
3
o
3
w
3
H
3
a
3
c
3
k
3
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
karamvir19 karamvir19
wrote...
Go to Answer
Posts: 134
Rep: 0 0
A year ago
What is meant by the term "increasing returns to scale"?

▸ it has the same meaning as increasing costs of production

▸ output rises proportionately less than inputs, increasing per unit cost of production in the short run

▸ output rises proportionately more than inputs, resulting in increasing per unit costs

▸ output rises proportionately more than inputs, resulting in lower per unit costs in the long run

▸ it implies that the long-run average cost curve is shifting downward
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
Read 39 times
1 Reply
Replies
Answer verified by a subject expert
rangeliferangelife
wrote...
#1
Posts: 124
Rep: 1 0
A year ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

karamvir19 Author
wrote...

A year ago
You make an excellent tutor!
mkyoungs
wrote...

Yesterday
Thanks
2ne1_12345
wrote...

2 hours ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1278 People Browsing
 186 Signed Up Today
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 580
  
 145
  
 636
Your Opinion
Who's your favorite biologist?
Votes: 608
Previous poll results: What's your favorite funny biology word?