Examlex
________ curves are derived while holding constant income, tastes, and the prices of other goods.
Returns to Scale
A concept in economics that describes how the output of a firm changes as all its inputs are increased proportionally.
Short Run
A period in economics during which at least one factor of production is fixed, limiting the adjustment processes of the economy.
Production Function
A mathematical representation of the relationship between inputs used in production and the output generated.
Returns to Scale
The rate at which output increases as inputs are proportionally increased in the production process.
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