=+decreasing returns to scale. If it causes output to increase by more than 10 percent, the production

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=+decreasing returns to scale. If it causes output to increase by more than 10 percent, the production function is said to exhibit increasing returns to scale. Why might a production function exhibit decreasing or increasing returns to scale?

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Macroeconomics

ISBN: 9781429240024

8th Edition

Authors: N Gregory Mankiw

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Question Posted: Sep 28, 2024 09:01 AM

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=+decreasing returns to scale. If it causes output to increase by more than 10 percent, the production

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Macroeconomics

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