Constant Returns to Scale Is the Point on a Production

question 11

True/False

Constant returns to scale is the point on a production function where increasing inputs will no longer increase output.

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Definitions:

Matching Law

A principle that states that the proportion of responses directed towards alternatives is equal to the proportion of reinforcements obtained from those alternatives.

Reinforcement

A process in behaviorism where a behavior becomes more likely to occur in the future due to the consequences that follow the behavior.

Matching Law

A principle stating that the proportion of responses on a particular option matches the proportion of reinforcements received for that option.

Maximizing Law

The goal of behavior in a choice task, which is to obtain as many reinforcements as possible.