If a Production Function Has Constant Returns to Scale, Then

question 24

True/False

If a production function has constant returns to scale, then if all inputs double so does production.

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Definitions:

Protestant Reformation

A movement in the 16th century that led to the creation of new Christian denominations separate from the Catholic Church, initiated by figures like Martin Luther and John Calvin.

Democratic Movements

Collective efforts and organizations that advocate for democracy, including the promotion of democratic governance, free elections, and human rights.

Technological Revolution

A period of rapid technological change that fundamentally alters the social, economic, or cultural condition of society.

Capitalist Industrialization

The transformation of economies from primarily agricultural to industrial and manufacturing, driven by capitalist markets and private ownership.