Decreasing Returns to Scale Occur When Inputs Are Doubled and Output

question 15

True/False

Decreasing returns to scale occur when inputs are doubled and output less than doubles.

---

Definitions:

Restaurant Meals

Food and beverage items prepared and served by dining establishments to customers, typically consumed on premises.

Tax

A compulsory monetary fee or a different kind of tax required by a government entity from taxpayers, aimed at raising funds for government operations and public services.

Consumption

The purchase and use of goods and services by households. It is a primary component of GDP and an indicator of economic health.

Good

A Good is a tangible product that satisfies human wants or needs.