Constant Returns to Scale Result When

question 13

Multiple Choice

Constant returns to scale result when:

• A)making a product involves repeating exactly the same tasks every time the item is made
• B)a business uses exactly the same total amount of inputs
• C)output increases by a greater percentage than an increase in inputs
• D)specialized machinery is used in production
• E)output increases by a smaller percentage than an increase in inputs

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Definitions:

Concrete Operational

A stage in Piaget’s theory of cognitive development, ranging from about 7 to 11 years of age, where children gain a better understanding of mental operations and can think logically about concrete events.

Sensorimotor

The sensorimotor stage is a phase of development in which infants learn about the world through their sensory experiences and motor activities.

Formal Operational

A stage in Jean Piaget's theory of cognitive development, typically starting around age 12, where individuals develop the ability to think abstractly and critically.

Schaie's Perspective

Refers to the theoretical framework proposed by K.Warner Schaie regarding the sequential stages of cognitive development throughout the adult lifespan.