answersLogoWhite

0

Diminishing return of scale is a short run concept. It explains the relationship between the rate of output with increaring inputs of production. Economies of scale, on the other hand, explains the relationship between the LR average cost of producing a unit of good with increasing level of output. Diminishing return of scale is a short run concept. It explains the relationship between the rate of output with increaring inputs of production. Economies of scale, on the other hand, explains the relationship between the LR average cost of producing a unit of good with increasing level of output.

User Avatar

Wiki User

17y ago

What else can I help you with?

Related Questions

What are some examples command economy?

North Korea and Cuba are good examples of command economies.


Examples of industries that benefit from economies of scale?

Hydroelectric plants.


What are techniques used for implied depth?

overlapping, diminishing size and vertacal placement of shapes all examples


What is an example of a country that operates under communism?

The economies of China, the former Soviet Union, and the former East Germany are examples of communist economies.


What are examples of command economy?

Libya North Korea Cuba Saudi Arabia Mynamar


Can you give necessary sentence examples?

It was necessary for doctors to perform the surgery. This is an example using the word necessary.


When do you refer to economy?

you refer to economies when you need examples. get Yur own definitions here :-)


What is marginal utility. why marginal utility diminishing. give atleast 10 examples where the marginal utility have not diminising?

Life-saving procedures


Is it possible for an economy to based on services only?

Yes. Monaco and Lichtenstien are examples of service-only economies.


Illustrate the difference between aromaticity and antiaromaticity with appropriate examples?

Illustrate the difference between aromaticity and antiaromaticity with appropriate examples?


Which countries have strong economies even though they have no oil reserves?

Germany, Japan, and South Korea are examples of countries with strong economies that do not have significant oil reserves. They have diversified economies, strong manufacturing sectors, and a focus on innovation and technology that contribute to their economic success.


What are examples of Market Command and Traditional economies?

A town where every child grows up to do the same job his or her parents did