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Returns to Scale Overview - Definition & Discussion - Intermediate Macroeconomics

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Published on Oct 22, 2012

We discuss returns to scale (applied to an intermediate macroeconomics course). Covering increasing returns to scale, decreasing returns to scale and constant returns to scale. Plus, given some production functions' functional forms, we calculate whether or not they are CRS, IRS or DRS. Also, some visuals to help you out.

http://youtu.be/gPyPvWxJOlc - This videos works through nine examples of production functions, and determines whether each is increasing, decreasing or constant returns to scale.

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Returns to Scale - Intermediate Macroeconomics
1:15 - Given a Production Function
4:00 - What do you mean by "Returns" and "Scale"?
5:00 - Returns to Scale
--- Increasing Returns to Scale - a single firm
--- Decreasing Returns to Scale - a very small firm
--- Constant Returns to Scale - an economy
5:45 - Given Production Function, calculate returns to scale
17:45 Cheat sheet
19:20 Visualization of Returns to Scale

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