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VERTICAL AXIS: In a graph, this is one of two lines that intersect at a right angle. This is the 'Y-axis' that runs up and down.

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INCREASING RETURNS TO SCALE

A given proportional change in all resources in the long run results in a proportional greater change in production. Increasing returns to scale exists if a firm increases ALL resources--labor, capital, and other inputs--by a given proportion (say 10 percent) and output increases by more than this proportion (that is more than 10 percent). This is one of three returns to scale. The other two are decreasing returns to scale and constant returns to scale.

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Today, you are likely to spend a great deal of time flipping through mail order catalogs hoping to buy either a flower arrangement with anything but tulips for your grandfather or a birthday greeting card for your mother that doesn't look like a greeting card. Be on the lookout for attractive cable television service repair people.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
"I know the price of success; dedication, hard work and an unremitting devotion to the things you want to see happen. "

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