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Let the production function be q = ALaKb. The function exhibits decreasing returns to scale if
Standardization
The process of developing and implementing technical standards to ensure consistency and compatibility in products, services, and processes.
Random Selection
A method of selecting a sample from a population in a way that gives every member of the population an equal chance of being chosen.
Representative Sample
A subset of a population that closely mirrors the characteristics of the overall population, used in research to draw conclusions about the population as a whole.
Population
a group of individuals of the same species living in the same geographic area at the same time, capable of interbreeding.
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