Question
Constant returns to scale describes a situation where expanding all inputs does not change the average cost of production a larger- scale firm can produce
Constant returns to scale describes a situation where
expanding all inputs does not change the average cost of production
a larger- scale firm can produce at a lower cost than a smaller scale firm
expanding all inputs changes the average cost of production
the quality of output rises and the average cost of production falls
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Economics of Managerial Decisions
Authors: Roger Blair, Mark Rush
1st edition
134166167, 978-0134166162, 9780134140773 , 978-0133548235
