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PER UNIT TAX: A tax that is specified as a fixed amount for each unit of a good sold. Federal excise taxes on gasoline and cigarettes fall into this per unit tax category.
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CONSTANT RETURNS TO SCALE A given proportional change in all resources in the long run results in the same proportional change in production. Constant returns to scale exists if a firm increases ALL resources--labor, capital, and other inputs--by 10 percent, and output also increases by 10 percent. This is one of three returns to scale. The other two are increasing returns to scale and decreasing returns to scale.
Complete Entry | Visit the WEB*pedia |
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
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"No great performance ever came from holding back. " -- Don Greene, motivational coach, former Green Beret
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Income
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