It Is Possible to Have Decreasing Marginal Products for All

question 4

True/False

It is possible to have decreasing marginal products for all inputs, and yet have increasing returns to scale.

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Definitions:

Money Supply

The total amount of monetary assets available in an economy at a specific time.

Credit Cards

Financial instruments issued by banks allowing cardholders to borrow funds with which to pay for goods and services with the promise to repay the bank within a certain timeframe.

Smoot-Hawley

Refers to the Smoot-Hawley Tariff Act of 1930, which raised U.S. tariffs on over 20,000 imported goods.

Imports

Products or resources that are bought from foreign countries to meet domestic demand or consumption.