Explain Each of the Following: (1)constant Returns to Scale; (2)decreasing

question 39

Essay

Explain each of the following: (1)constant returns to scale; (2)decreasing returns to capital; and (3)decreasing returns to labor.

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Definitions:

Disclosed Information

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Double-Barreled

This term describes questions or statements that tackle more than one issue at a time, making them difficult to answer or assess accurately.

Evaluative

Pertaining to the appraisal or assessment of the value, significance, or status of a subject.

Descriptive

Pertaining to observations and analyses that aim to summarize and describe the characteristics of a dataset without making inferences or predictions.