A Production Function for Which Proportional Changes in All Inputs

question 26

Multiple Choice

A production function for which proportional changes in all inputs leads to a more-than-proportional change in output is said to exhibit

• A)Diminishing returns
• B)Decreasing returns to scale
• C)Constant returns to scale
• D)Increasing returns to scale

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Definitions:

Uniform Distribution

Uniform distribution is a type of probability distribution in which all outcomes are equally likely; in a continuous uniform distribution, this means any number within a certain range has an equal chance of being drawn.

Organic Product

A compound or material derived from living organisms or synthesized to mimic natural substances, often used in chemistry and industry.

Major Structure

Refers to the most stable or predominant structure among several possible structures of a molecule under given conditions.

Oxidation State

A number that represents the total number of electrons that an atom either loses or gains in order to form a chemical bond with another atom.