Multiple Choice
Which of the following statements describes increasing returns to scale:
A) Doubling the inputs used leads to double the output.
B) Increasing the inputs by 50% leads to a 25% increase in output.
C) Increasing inputs by 1/4 leads to an increase in output of 1/3.
D) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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