|
|
Decreasing returns to scale |
|
|
|
 Home Site Map Add Term Search About Us Contributors |
Decreasing returns to scaleA property of a production function such that changing all inputs by the same proportion changes output less than in proportion. Example: a function homogeneous of degree less than one. Also called simply decreasing returns. Not to be confused with diminishing returns, which refers to increasing some inputs while holding other inputs fixed. Contrasts with increasing returns and constant returns.Similar MatchesDecreasing term assuranceDecreasing term assuranceA life insurance policy that pays out a lump sum in the event of death. The amount paid out can be calculated so that it fall in line with your outstanding mortgage debt – meaning that over time the borrowers premiums also fall. This type of policy is well suited to providing cover on a repayment mortgage. Decreasing term assuranceDecreasing term assuranceLife insurance in which the death benefit decreases over the term of the policy although the premiums remain fixed. Decreasing costDecreasing costAverage cost that declines as output increases, due to increasing returns to scale. |
|
|
|