Meaning of returns to scale

 

 

 

Returns to scale

 

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Business glossary

 

Meaning of term returns to scale :

 

Returns to scale are the way in which changes in the quantity of inputs (factors of production) affect output. Increasing returns to scale (economies of scale) means that output increases by more than the increase in inputs and therefore unit costs are falling as output increases.

 

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Meaning of term returns to scale