Ask Question
15 February, 06:22

A production function for which proportional changes in all inputs leads to a more-than-proportional change in output is said to exhibit

+3
Answers (1)
  1. 15 February, 08:11
    0
    In this case, the function will show increasing returns to scale. The firm, experiencing such, will have lowered production costs because of these returns. They will be able to create a magnitude more product than the increase in inputs would have nominally precipitated.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “A production function for which proportional changes in all inputs leads to a more-than-proportional change in output is said to exhibit ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers