With a Cobb-Douglas Technology, When α+ β= 1, We Have

question 6

Multiple Choice

With a Cobb-Douglas technology, when α+ β= 1, we have

• A) constant returns to scale
• B) increasing returns to scale
• C) decreasing returns to scale

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Definitions:

Sensorimotor Stage

The first of Jean Piaget's stages of cognitive development, where infants learn about the world through their sensory and motor interactions.

Preoperational Stage

A stage of cognitive development, according to Piaget, where children aged 2 to 7 years engage in symbolic play and struggle with taking the perspective of others.

Emerging Adulthood

A phase of life between adolescence and full-fledged adulthood, typically from late teens through twenties, characterized by exploration and self-discovery.

Self-focus

The act of concentrating attention on oneself, often analyzing one’s own thoughts, feelings, and behaviors.