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Diminishing returns.

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Diminishing returns.

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The main thrust of this Element is a critical assessment of the theory and evidence concerning the sources of scale effects. It is argued that the analysis of static scale effects is important because scale effects are embedding in our world, and new technologies associated with an evolving economy often allow their exploitation when they cannot be exploited in less technically advanced and smaller economies. So, although static equilibrium theory is not a good vehicle for studying economic growth, showing how scale effects operate when output varies with given technology helps us to understand the scale effects that occur when output rises as a result of economic growth, even though that is typically driven by technological change.

Economies of scale. --- Economies of size --- Increasing returns --- Scale, Economies of --- Size, Economies of --- Big business --- Costs, Industrial --- Diminishing returns

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Mathematics --- Logic, symbolic and mathematical --- Uncertainty --- Diminishing returns --- Philosophy --- Study and teaching --- Logic, Symbolic and mathematical --- -Mathematics --- -Uncertainty --- Reasoning --- Math --- Science --- Algebra of logic --- Logic, Universal --- Mathematical logic --- Symbolic and mathematical logic --- Symbolic logic --- Algebra, Abstract --- Metamathematics --- Set theory --- Syllogism --- Law of diminishing returns --- Agriculture --- Economics --- Economies of scale --- Economic aspects --- Diminishing returns. --- Logic, Symbolic and mathematical. --- Uncertainty. --- Philosophy. --- Study and teaching. --- Logic of mathematics --- Mathematics, Logic of --- Mathematics - Philosophy --- Mathematics - Study and teaching

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The analysis of this volume represents an attempt to apply modern mathematical techniques to the problems arising from large and significant indivisibilities. While the classical microeconomic theory refers to assumptions about the convexity of production sets and consumer preferences, this book directs the attention to indivisible commodities. It investigates the influence of the assumed indivisibilities of factors and goods on the results of the microeconomic theory of the firm, the theory of the household and market theory.

Economies of scale --- Equilibrium (Economics) --- Mathematical models. --- Microeconomics. --- Price theory --- Economics --- Economies of size --- Increasing returns --- Scale, Economies of --- Size, Economies of --- Big business --- Costs, Industrial --- Diminishing returns