If a Production Function Exhibits Increasing Returns to Scale, a 10

question 53

Multiple Choice

If a production function exhibits increasing returns to scale, a 10% increase in:

• A)input- use results in a less than 10% increase.
• B)the LMC being above LAC.
• C)output requires a more than 10% increase in the input- use.
• D)output results in a less than 10% increase in the input- use.

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