Examlex
The colors on an oil slick are caused by reflection and
Returns To Scale
The rate at which output changes if the scale of all inputs is changed by the same proportion in the production process.
Input
Resources used in the production process to generate goods or services, including labor, raw materials, and capital.
Output
The total amount of goods or services produced by a company, sector, or economy within a specific time period.
Isoquants
Curves that represent all the combinations of two inputs that produce the same level of output, used in the analysis of production technology.
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