Firm Economies
The theory of the firm considers what bounds the size and output variety of firms. This includes how firms may be able to combine labour and capital so as to lower the average cost of output, either from increasing, decreasing, or constant returns to scale for one product line or from economies of scope for more than one product line.
Read more about this topic: Theory Of The Firm
Famous quotes containing the word firm:
“I have this hope in God that he will hear our prayers, given the firm faith we place in him: and that he will accomplish this wish of ours, seeing as it is a moderate one.”
—François Rabelais (1494–1553)