Decreasing Returns to Scale Production Functions Must Be Concave

question 14

True/False

Decreasing returns to scale production functions must be concave.

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Definitions:

Sustainable Value Chain

A value chain approach focusing on long term resilience and environmental sustainability, aiming to minimize negative impacts.

Fossil Fuels

Natural fuels such as coal, oil, and natural gas, formed from the remains of living organisms and serving as a major global energy source.

Resource Constraints

Limitations on the availability of resources such as time, money, and labor that can affect the completion of projects or the achievement of goals.

Rapid Deforestation

The fast-paced clearing or thinning of forests by humans, often for agriculture, logging, or urban development, leading to significant ecological and environmental impacts.