Suchergebnisse

Cover -- Dedication -- Title -- Copyright -- Contents -- List of Figures -- List of Tables -- PART I PRODUCTION -- 1 The Resource Costs of Production -- 2 The Efficiency Rate of Profit -- 3 The Constant Annual Rental Model -- 4 The Factor Input Frontier Production Function -- PART II MECHANIZATION -- 5 Mechanization in Theory -- 6 Mechanization in Practice -- PART III ECONOMIES OF SCALE -- 7 Economies of Scale in Theory -- 8 The Power Rule -- PART IV COMBINED MECHANIZATION AND ECONOMIES OF SCALE -- 9 Increasing Returns to Scale and Mechanization in Blast Furnace Plants -- 10 The Economic Theory of Combined Mechanization and Increasing Returns to Scale -- Index

AbstractSince many mutual fund expenses are fixed costs, asset growth should reduce the ratio of fund expenses to average net assets. A translog cost function is estimated for a sample of 2,610 funds to evaluate the existence and extent of economies of scale in mutual fund administration. The elasticity of fund expenses with respect to fund assets is significantly less than one, indicating there are economies of scale in mutual fund administration. Average costs diminish over the full range of fund assets; however, the rapid decrease in average costs is exhausted by about $3.5 billion in fund assets.

ABSTRACTWe show that economies of scale in upstream production can lead both the disintegrated downstream firm as well as its vertically integrated rival to outsource offshore for intermediate goods, even if offshore production has a moderate cost disadvantage compared to in‐house production of the vertically integrated firm.

This paper analyzes 1850 cost data for a sample of 36 steamboats operating on five routes. The results indicate no economies or diseconomies of scale. Substantial differences in the cost per ton-mile are found between routes. These differences are largely explained by differences in capacity utilization.