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Vlad [161]
3 years ago
13

A production function for which proportional changes in all inputs leads to a more-than-proportional change in output is said to

exhibit
Business
1 answer:
Ilya [14]3 years ago
8 0
<span>In this case, the function will show increasing returns to scale. The firm, experiencing such, will have lowered production costs because of these returns. They will be able to create a magnitude more product than the increase in inputs would have nominally precipitated.</span>
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