In a Particular Production Process, If the Quantities of All

question 396

Multiple Choice

In a particular production process, if the quantities of all inputs used are increased by 60 percent, then the quantity of output increases by 60 percent as well. This means that

• A)the production process cannot be enhanced by technological advances.
• B)no mathematical representation of the relevant production function can be formulated.
• C)the relevant production function has the limits-to-growth property.
• D)the relevant production function has the constant-returns-to-scale property.

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Definitions:

Standard Deviations

A numerical metric that calculates the extent of spread or deviation of a dataset values from its average.

Percent Of People

A statistical measurement that represents a portion of a total group or population in terms of a percentage.

Median

The middle value in a list of numbers, which divides the distribution into two equal halves.

Range

The difference between the highest and lowest scores in a dataset, showing the spread or dispersion of the values.