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valkas [14]
3 years ago
13

both capital and labor​ double, given the production​ function, output will double . If output doubles when inputs​ double, the

production function will be characterized by​ ________.
Business
1 answer:
Sergeu [11.5K]3 years ago
3 0

Answer:

If output doubles when inputs​ double, the production function will be characterized by​ a <u>constant returns to scale</u>.

Explanation:

In economics, returns to scale refers to a long run situation that reveals to the proportionate change in output when capital and labor inputs become variable or change.

The three possible types of returns to scale are as follows:

1. Increasing returns to scale: This occurs when the proportionate change in output is greater than the proportionate change in capital and labor inputs.

2. Decreasing returns to scale: This occurs when the proportionate change in output is less than the proportionate change in capital and labor inputs.

3. Constant returns to scale: This occurs when the proportionate change in output is the same as the proportionate change in capital and labor inputs.

Based on the above explanation therefore, if output doubles when inputs​ double, the production function will be characterized by​ a <u>constant returns to scale</u>. This is because the the proportionate change (double) in output is the sames as the proportionate change (double) in inputs.

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3 years ago
Read 2 more answers
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Answer:

Total= 36,800 pounds

Explanation:

Giving the following information:

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June: 18,000 - 16,000

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3 years ago
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John Maynard Keynes will recommend an increase in government expenditures and lower taxes to stimulate demand to pull the economy out of the recession..

John Maynard Keynes is an economist who was popularly known for creating the Keynesian theory of economics

The Keynesian theory of economics is one who who advocate for saving less and spending more, thereby, raising their marginal propensity to consume and economic growth.

Now, supposing that a country spiraled into economic recession, John Maynard Keynes will recommend an increase in government expenditures and lower taxes to stimulate demand and pull the economy out of the recession..

Learn more about this here

<em>brainly.com/question/6815540</em>

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2 years ago
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Answer:

c

Explanation:

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2 years ago
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