The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Returns to Scale

  • John Eatwell
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_1480

Abstract

The technique of production of a commodity y may be characterized as a function of the required inputs xi:If all inputs are multiplied by a positive scalar, t, and the consequent output represented as tsy, then the value of s may be said to indicate the magnitude of returns to scale.

Keywords

Constant returns Decreasing returns Dynamic increasing returns Increasing returns Indivisibilities Returns to scale Substitution Technical change 

JEL Classifications

D2 
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Bibliography

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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • John Eatwell
    • 1
  1. 1.