Suppose Prices and Technologies Are Held Constant

question 59

Essay

Suppose prices and technologies are held constant.State whether each of the following scenarios shows increasing returns to scale,constant returns to scale or decreasing returns to scale.
a)Percentage change input is greater than the percentage change in output.
b)Percentage change input is equal to the percentage change in output.
c)Percentage change input is less than the percentage change in output.

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Definitions:

Same-Sex Peers

Individuals of the same sex with whom a person associates, including friendships and social groups, playing a significant role in social development.

Biological Preference

An innate tendency to prefer certain stimuli or environments over others, often observed in humans and animals.

Prosocial Behaviors

Actions intended to benefit others, such as helping, sharing, donating, and volunteering, indicative of empathy and social responsibility.

Cognitively Prepared

The innate potential in human beings to learn certain skills or acquire specific knowledge, suggesting readiness for cognitive development.