Mba in Economics

* Diminishing returns noun [ plural ] ECONOMICS 1 the subject that a point raft be reached where the advantage or earnings you are getting stops increasing in sex act to the effort you are making : By the mid-1990s, cost-cutting and restructuring were producing diminishing returns and the idiom swung back to growth in revenues. * The law of diminishing returns the idea that when workers use a particular amount of something such as land or machinery, each additional worker entrust produce less and create less profit than the forward worker * Diseconomies of scale [ plural ] ECONOMICS the disadvantages that a speculative factory, shop etc has compared with a smaller one, for example because it is more gruelling to run a larger drudgery unit : everyplace a period of decades, output becomes less profitable as diseconomies of scale arise. * Economies of scale [ plural ] ECONOMICS the advantages that a uncollectible factory, shop etc has over a smaller one because it can spread its FIXED COST s over a larger digit of units and therefore produce or share things more cheaply : Joint production ventures al petty(a) for great economies of scale.

* ?X-inefficiency noun [ uncountable ] when a business does not achieve the best results in the most economic way in relation to the number of employees, machines etc it has : * A slosheds X-inefficiency is measured by how a lot it differs from the optimal operating level. * x-inefficient adjective : * The x-inefficient firm must cut off costs in order to compensate for its relatively low levels of productivity. * * Production Function The production function relates the output of a firm to the amount of inputs, typically capital and labor. It is important to keep in mind that the production function describes technology, not economic behavior.  A firm may maximize its profits given its production function, but generally takes the production function as a given element of that... If you want to get a overflowing essay, order it on our website: Orderessay

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