Examlex
If a backward elimination in loglinear analysis was to be used, what would be the initial effect or interaction potentially eliminated?
Returns To Scale
An economic concept describing how output changes in response to a proportional change in all inputs; indicating constant, increasing, or decreasing returns to scale.
Production Function
A mathematical equation that describes the maximum amount of output that can be obtained from a given set of inputs.
Output
The amount of goods or services produced by a business, industry, or economy in a given period.
Production Isoquants
Curves that represent different combinations of inputs that produce the same level of output, illustrating the trade-offs in production processes.
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