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Entries Tagged as 'Production'

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Returns To Scale, Now With More Chocolate…

August 29th, 2016 · 2 Comments
Econ 101 · Production

Technically, “constant returns to scale” describes a production process where you get exactly twice as much stuff out if you put twice as much stuff in. Economists often argue that at least constant returns to scale should be achievable since, worst case scenario, you could just build a second identical factory next to the first […]

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Tags: Econ 101 · Production