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E-book
Author Jackson, Dudley.

Title Profitability, mechanization, and economies of scale / Dudley Jackson
Published Abingdon, Oxon ; New York, NY : Routledge, 2018

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Description 1 online resource (333 pages)
Series Routledge revivals
Routledge revivals.
Contents 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
Summary First published in 1998, this book introduces a new concept of profitability, called the 'efficiency rate of profit', which is defined as the ratio between the unit net margin and the unit capital requirement and shows how the efficiency rate of profit may be used in the assessment of mechanization and economies of scale. The book also shows how the efficiency rate of profit relates to the financial opportunity cost of investment, thus resolving the long-standing controversy over 'interest as a cost'. Using real-world plant-level data, the book explains fully the process of mechanization, how increasing returns to scale works at the plant level through power rule relating plant or equipment cost to capacity and how and why it is more cost effective to combine mechanization with expanding the scale of production in one combined 'package' of efficiency improvement
Notes Originally published 1998 by Ashgate Publishing
Bibliography Includes bibliographical references and index
Notes Online resource; title from digital title page (viewed on October 21, 2019)
Subject Economies of scale.
Mechanization.
Profit.
mechanization.
BUSINESS & ECONOMICS -- Industries -- General.
Economies of scale
Mechanization
Profit
Form Electronic book
ISBN 9780429821332
0429821336
9780429821325
0429821328
9780429821318
042982131X
9780429446313
0429446314