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Which of the following is NOT consistent with what we learned in the course? a. Constant returns to scale denote a case where a change
Which of the following is NOT consistent with what we learned in the course?
a. | Constant returns to scale denote a case where a change in all inputs leads to a proportional change in output. | |
b. | Economies of scope occur when a number of different products can be produced more efficiently together than apart. | |
c. | Decreasing returns to scale occur because of the law of diminishing returns. | |
d. | Increasing returns to scale are also called economies of scale. |
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