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Log scale |
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Log scaleA scale that illustrates changes in proportion. So if a share doubles in price from £1 to £2, and then doubles again from £2 to £4, the distance between 1 and 2 will be the same as the distance from 2 to 4 because in both cases the increase was a doubling.Similar MatchesOffering scaleOffering scaleThe range of prices offered by the underwriter of a serial bond issue with different maturities. Constant returns to scaleConstant returns to scaleA property of a production function such that scaling all inputs by any positive constant also scales output by the same constant. Such a function is also called homogeneous of degree one or linearly homogeneous. CRTS is a critical assumption of the H-O Model of international trade. Contrasts with increasing returns and decreasing returns. Scale enhancingScale enhancingDescribes a project that is in the same risk class as the whole firm. That is, the project allows the firm to grow larger in the context of their current business rather than diversify into new businesses. Decreasing returns to scaleDecreasing 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. Economies of scaleEconomies of scaleAchievement of lower average cost per unit through increased production. Further SuggestionsScaleExternal economies of scale Scale in Dynamic economies of scale External increasing returns to scale Diseconomies of scale Minimum efficient scale Increasing returns to scale Internal economies of scale Inverted scale Economies of scale Scale order Scale economies Rescaled Range (R or S) Analysis Returns to scale |
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