assume a given amount of output can be produced by several small plants or one large plant with identical minimum per-unit costs. this long-run situation reflects the existence of group of answer choices diminishing returns. constant returns to scale. diseconomies of scale. economies of scale.

A constant return of scale is an profitable condition where a company's inputs, like capital and labor, increase at the same rate as their labors, or value of their goods. Returns to gauge are long- run measures.

What's the short run proposition of product?

The term “ short- run product ” refers to a product cycle in which at least one factor is fixed. utmost companies have multiple factors that they use to produce goods or services. Also known as input factors, they can correspond of labor, accoutrements , outfit, capital and real property.

What happens to product in the long run?

The long run is a period of time in which all factors of product and costs are variable. In the long run, enterprises are suitable to acclimate all costs, whereas in the short run enterprises are only suitable to impact prices through adaptations made to product situations.

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