What is Constant Returns to scale
What is Constant Returns to scale?
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Firms cannot keep increasing returns to scale indefinitely after the first stage; therefore, firm enters a stage while total output tends to increase at a rate that is equal to the rate of increase in inputs. Such stage comes in to operation while the economies of large scale production are neutralized through the diseconomies of huge scale operation.
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For a firm hiring through a purely competitive labor market, in that case the supply of labor is: (w) greater than the MRC. (x) less than the MRC. (y) the same as the MRC. (z) vertical to parallel the wage rate. Discover Q & A Leading Solution Library Avail More Than 1414638 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1945390 Asked 3,689 Active Tutors 1414638 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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