If Output More Than Doubles When All Inputs Are Doubled,production

question 16

Multiple Choice

If output more than doubles when all inputs are doubled,production is said to occur under conditions of

• A)increasing returns to scale.
• B)imperfect competition.
• C)intraindustry trade.
• D)interindustry trade.

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Definitions:

Case-by-Case Basis

An approach to decision-making that involves treating each situation separately and considering its unique characteristics.

Clusters of Competencies

Groupings of related skills, abilities, and knowledge that enable an individual to perform successfully in job or task applications.

Technical

Relating to specific skills, knowledge, or methodologies that are necessary in scientific, engineering, or specialized industrial work.

Interpersonal

Relating to interactions between individuals, often emphasizing communication and relationship-building skills.