I plan to reopen a business consists of five kiosks for serving the customers who come to service their Phones. In this case, I must hir five Professional workers. So here, we can regard the kiosk and workers as the input and the serviceable phones as output. IN five kiosks = I can serve a total of 100 customers every week. But the expectons we will facing 150 customers daily for servicing their Phones. So, to serve all the customers, if I -rent five more kiosks to do the needful and also , hir additional five Professional workers. 1- How to exhibit increasing returns To Scale? 2- How to exhibit decreasing Returns To Scale 3- How to exhibit Constant returns to scale?
I plan to reopen a business consists of five kiosks for serving the customers who come to service their Phones. In this case, I must hir five Professional workers.
So here, we can regard the kiosk and workers as the input and the serviceable phones as output. IN five kiosks = I can serve a total of 100 customers every week. But the expectons we will facing 150 customers daily for servicing their Phones.
So, to serve all the customers, if I -rent five more kiosks to do the needful and also , hir additional five Professional workers.
1- How to exhibit increasing returns To Scale?
2- How to exhibit decreasing Returns To Scale
3- How to exhibit Constant returns to scale?
Please make sure to include an adequate explanation as to why this is true.
Returns to scale refer to the output that is generated for a given level of inputs. In other words, it represents the degree of change in output that may occur due to an increase in the inputs by a constant.
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Thank you so much. you're doing “great work, but I have confuse.
-Could you please give me short summary of answers, without mathematical equations.
by Bartleby Expert
