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Prof. M.P. Rege
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
 
[object Object]
[object Object],[object Object]
TYPES OF PRODUCTION FUNCTION ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
 
[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object]
[object Object],SCALE OF PRODUCTION MARGINAL RETURN
[object Object],[object Object],[object Object]
[object Object],SCALE OF PRODUCTION MARGINAL RETURN
[object Object],[object Object]
[object Object],SCALE OF PRODUCTION MARGINAL RETURN
[object Object],[object Object]
An economy of scale exists when larger output is associated with lower per unit cost.
ECONOMIES OF SCALE ,[object Object],[object Object],[object Object],[object Object]
A diseconomy of scale exists when larger output leads to higher per unit cost.
DISECONOMIES OF SCALE ,[object Object],[object Object],[object Object]
ECONOMIES OF SCALE, DISECONOMIES OF SCALE & RETURNS TO SCALE ,[object Object]
[object Object],[object Object],[object Object],ECONOMIES OF SCALE, DISECONOMIES OF SCALE & RETURNS TO SCALE
LIMITATION OF RETURNS TO SCALE
 

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Returns to scale and its implications