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Increasing life annuity |
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Increasing life annuityAnother expression for escalating annuity.Similar MatchesExternal increasing returns to scaleExternal increasing returns to scaleExternal economies of scale. Increasing And Diminishing ReturnsIncreasing And Diminishing ReturnsAn economic theory that an increase in capital or manpower will not increase production proportionately (five workers may do less than five times the work of one worker; and two workers may do more than twice the work of one worker). When the increase in production is proportionately greater than the addition, there is an increasing return, when production is proportionately less than the addition. the return diminishes. Increasing opportunity costIncreasing opportunity costThe characteristic of an economy that the opportunity cost of a good rises as it produces more of it, resulting in a transformation curve that is concave to the origin. In the HO Model, this happens even with CRTS if sectors have different factor intensities. Increasing returns to scaleIncreasing returns to scaleA property of a production function such that changing all inputs by the same proportion changes output more than in proportion. Common forms include homogeneous of degree greater than one and production with constant marginal cost but positive fixed cost. Also called economies of scale, scale economies, and simply increasing returns. Contrasts with decreasing returns and constant returns. |
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