Examlex
Which of the following market structures is considered imperfectly competitive?
Returns To Scale
A concept in economics that describes the change in output as a result of a proportional change in all inputs.
Input
Resources used in the production process, including labor, materials, and capital.
Production Function
A production function describes the relationship between inputs utilized in production and the output generated from those inputs.
Returns To Scale
The rate at which production output increases as a result of a proportional increase in all inputs (labor, capital, etc.).
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