The definition of point output elasticity is Q = Q/Q X/X ( X represents

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The definition of point output elasticity is εQ = ∂Q/Q ÷ ∂X/X (X represents all inputs), whereas the definition of point cost elasticity is εC = ∂C/C ÷ ∂Q/Q. Explain why εQ > 1 indicates increasing returns to scale, whereas εC < 1 indicates economies of scale.
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