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Consider a production function at a restaurant, where the number of meals produced (qM) is dependent on the number of cooks (qL) and the number
Consider a production function at a restaurant, where the number of meals produced (qM) is dependent on the number of cooks (qL) and the number of ovens or physical capital (qK). If the production function is characterized by increasing returns to scale, then doubling all inputs will ________ the number of meals produced
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Economics
Authors: Roger A. Arnold
11th edition
1133561675, 978-1133561675
