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  2. Economies of scale - Wikipedia

    en.wikipedia.org/wiki/Economies_of_scale

    If input prices remain the same as their quantities purchased by the firm increase, the notions of increasing returns to scale and economies of scale can be considered equivalent. However, if input prices vary in relation to their quantities purchased by the company, it is necessary to distinguish between returns to scale and economies of scale.

  3. Lange model - Wikipedia

    en.wikipedia.org/wiki/Lange_model

    The central planning board (CPB) has three major functions in the Lange model: First it instructs firms to set price to equal marginal cost, secondly it adjusts prices to attain market-clearing prices for goods and services, and finally, it reinvests the economic profit derived from state enterprises into the economy based on a target rate of ...

  4. Socially optimal firm size - Wikipedia

    en.wikipedia.org/wiki/Socially_optimal_firm_size

    If only diseconomies of scale existed, then the long-run average cost-minimizing firm size would be one worker, producing the minimal possible level of output. However, economies of scale also apply, which state that large firms can have lower per-unit costs due to buying at bulk discounts (components, insurance, real estate, advertising, etc.) and can also limit competition by buying out ...

  5. Cost curve - Wikipedia

    en.wikipedia.org/wiki/Cost_curve

    If the firm is a perfect competitor in all input markets, and thus the per-unit prices of all its inputs are unaffected by how much of the inputs the firm purchases, then it can be shown that at a particular level of output, the firm has economies of scale (i.e., is operating in a downward sloping region of the long-run average cost curve) if ...

  6. Returns to scale - Wikipedia

    en.wikipedia.org/wiki/Returns_to_scale

    In mainstream microeconomics, the returns to scale faced by a firm are purely technologically imposed and are not influenced by economic decisions or by market conditions (i.e., conclusions about returns to scale are derived from the specific mathematical structure of the production function in isolation). As production scales up, companies can ...

  7. New trade theory - Wikipedia

    en.wikipedia.org/wiki/New_Trade_Theory

    New trade theory (NTT) is a collection of economic models in international trade theory which focuses on the role of increasing returns to scale and network effects, which were originally developed in the late 1970s and early 1980s.

  8. 25 Unconventional Pets Owned by Celebrities - AOL

    www.aol.com/lifestyle/25-unconventional-pets...

    Celebrity: American actress and film producer Reese Witherspoon Animal:Donkeys Names: Honky and Tonky Make a good pet? Yes, if you have the space. Catherine of Aragon’s monkey

  9. Big push model - Wikipedia

    en.wikipedia.org/wiki/Big_push_model

    The Big Push Model is a concept in development economics or welfare economics that emphasizes the fact that a firm's decision whether to industrialize or not depends on the expectation of what other firms will do. It assumes economies of scale and oligopolistic market structure. It also explains when the industrialization would happen.