A Production Function That Exhibits Constant Returns to Scale Is

question 108

Multiple Choice

A production function that exhibits constant returns to scale is called a(n) :

• A)linear homogeneous production function.
• B)Cobb-Douglas production function.
• C)quadratic production function.
• D)a linear production function.

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Definitions:

Synergies

Refers to the combined effect of group efforts or operations that results in a greater impact or benefit than the sum of individual efforts.

Vertical

In a business context, it refers to a market or industry where the supply chain of a company is focused on providing a specific niche of products or services.

Strategic Benefits

Advantages that accrue to an organization through the implementation of strategies that improve competitiveness and ensure the achievement of goals.

Competitive Benefits

Advantages offered by a company to its employees that go beyond the standard benefits package, designed to attract and retain talent by meeting or exceeding what competitors offer.