Answered step by step
Verified Expert Solution
Question
1 Approved Answer
If the number of workers in an economy doubled, all other inputs stayed the same, and there were constant returns to scale, what would happen
If the number of workers in an economy doubled, all other inputs stayed the same, and there were constant returns to scale, what would happen to productivity?
a.It would fall to half its former value.
b.It would stay the same.
c.It would fall, but by less than half.
d.It would rise, but by less than double.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started