Decreasing Returns to Scale Is a Feature of a Technology

question 36

True/False

Decreasing returns to scale is a feature of a technology that is such that, when all inputs are increased by a fixed multiple λ, output increases by less than that multiple.

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Definitions:

Retirement

The period in one's life when they choose to permanently leave the workforce behind and cease employment.

Average

A statistical measure representing the central or typical value in a set of data, often calculated as the sum of the values divided by the number of values.

Increase in Value

The appreciation or growth in the worth of an asset or investment over time.

Future Value

The value of a current asset at a future date based on an assumed rate of growth over time, calculated using compounding interest.