Solved

Returns to Scale Pertains to the Impact on Output of Changing

Question 44

True/False

Returns to scale pertains to the impact on output of changing a single input while holding all other inputs constant; diminishing marginal returns pertains to the impact on output of increasing all inputs simultaneously.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q39: <span class="ql-formula" data-value="\text { For the production

Q40: The <span class="ql-formula" data-value="M R

Q41: Suppose over time that a firm's production

Q42: The expression given below explains:

Q43: For the production function <span

Q45: Technically inefficient points are points in the

Q46: Assuming a firm uses capital and labor

Q47: <span class="ql-formula" data-value="\text { A production function

Q48: A fixed proportions production function:<br>A)is not observed

Q49: The Cobb-Douglas production function does not exhibit