The term constant returns to scale describes a situation where

Asked by admin @ 15/10/2021 in Business viewed by 283 People

The term "constant returns to scale" describes a situation where expanding all inputs does not change the average cost of production. a larger-scale firm can produce at a lower cost than a smaller-scale firm. expanding all inputs changes the average cost of production. the quantity of output rises and the average cost of production falls.

Answered by admin @ 15/10/2021

Answer:

Constant returns to scale refer to the situation where an increase in input causes an equal proportionate increase in output level.

Explanation:

The term constant returns to scale means that a proportionate increase in inputs causes an equally proportionate increase in the output level. In such a situation the average cost of production will not change due to the increase in inputs. This is because the average cost of production is the ratio of total costs and quantity of output and in constant returns increase in input leads to an increase in costs but the output level also rises by the same proportion.

Able, baker, and charles are engaged in the marketing to and enrollment of beneficiaries into medicare health plans. mr. able is an independent agent paid directly by a health plan. ms. baker is an independent agent paid through a field marketing organization (fmo). mr. charles is an independent agent paid for his work by a third-party marketing organization (tmo). how do the cms compensation rules apply to these three agents?

Asked by maham237 @ 13/01/2021 in Business viewed by 2744 persons

The term constant returns to scale describes a situation where

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