The increasing returns to scale of the industry was proved with the significant co-efficient of labor input (LnL).
What does IRTS stand for?
IRTS stands for Increasing Returns to Scale
This definition appears somewhat frequently and is found in the following Acronym Finder categories:
- Business, finance, etc.
See other definitions of IRTS
We have 19 other meanings of IRTS in our Acronym Attic
- Internal Revenue Tax Paid
- International Reference Test Procedure
- International Review of Theory & Practice (psychology & criminal justice)
- International Rice Testing Programme
- Internet Reliable Transaction Protocol
- Intelligence Reform and Terrorism Prevention Act of 2004
- International Real Tennis Professionals Association (Surrey, England, UK)
- Infrared Transmitter & Receiver (iLumin Architectural Lighting Control System)
- InfraRed TRANsfer Picture
- Incident Reporting and Tracking System
- Indian Railway Traffic Service
- Infrared Target Simulator
- Infrared Telescope in Space (Japan)
- Infrared Telescope on Spacelab (NASA)
- Institut Régional du Travail Social (France)
- Intensive Rehabilitation Treatment Services
- Intensive Residential Treatment Services
- International Radio and Television Society
- Irish Radio Transmitters Society
- International Radio and Television Society Foundation
Samples in periodicals archive:
Firms operating under Increasing Returns to Scale (IRS) and Diminishing Returns to Scale (DRS) in 2008-09 were 53 and 35 respectively.
If output increases by more than that proportion, there are increasing returns to scale (IRS), Specifically, a company achieved scale efficient (namely constant return to scale) only if it operates at the bottom of the assumed U-shaped curve, In this study, we examine the nature of the scale efficiencies by determining the number of firms operating under constant, increasing, and decreasing returns to scale.
On the other hand, in the literature, it is also recognized that a larger population may be beneficial for industrialization since it makes the adoption of increasing returns to scale technologies more profitable.
In the case of increasing returns to scale and decreasing returns to scale, however, an increase in TFP would lead to smaller and larger changes, respectively, in labor demand.
That idea is non-rivalrous together with increasing returns to scale gives rise to a basic scale effect in idea-based growth models.
In common with its predecessors in other Australian states, the Queensland Reform Commission thus assumed a monotonic relationship between population size and the unit costs of service provision characterized by an increasing returns to scale production function.
The third factor is market size, which provides opportunities for firms to reap increasing returns to scale and network effects.