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I have a question, Economists use the concept returns to scale to describe the relationship between changes in a firm's output when it changes all
I have a question, Economists use the concept returns to scale to describe the relationship between changes in a firm's output when it changes all of its production inputs. Assume that we observe that a company experiences increasing returns to scale; that is doubling all its inputs more than doubles its output. What can be inferred about the firm's short-runcosts?
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