Consider the case of three inputs to produce a product. The function is given as f(aX 25, aX.5, aX 25) < af(X.25, X9.5, X9.25) for all a > 1. What type of returns to scale is this? Select one: O a. None of the above b. Constant returns to scale O c. Decreasing returns to scale O d. Increasing returns to scale
Consider the case of three inputs to produce a product. The function is given as f(aX 25, aX.5, aX 25) < af(X.25, X9.5, X9.25) for all a > 1. What type of returns to scale is this? Select one: O a. None of the above b. Constant returns to scale O c. Decreasing returns to scale O d. Increasing returns to scale
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Consider the case of three inputs to produce a product. The function is given as
f(aX.25, aX.5, aX 25) < af(X.25, X9.5, X9.25) for all a > 1. What type of returns to scale is this?
Select one:
Oa.
None of the above
O b. Constant returns to scale
O c. Decreasing returns to scale
O d. Increasing returns to scale
Clear my choice
to search
近](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F36abb20b-0a2e-4f12-9cbc-603849c615ac%2F01d51c89-f039-4377-b6b9-0da2120c7a0a%2F3x86maq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Consider the case of three inputs to produce a product. The function is given as
f(aX.25, aX.5, aX 25) < af(X.25, X9.5, X9.25) for all a > 1. What type of returns to scale is this?
Select one:
Oa.
None of the above
O b. Constant returns to scale
O c. Decreasing returns to scale
O d. Increasing returns to scale
Clear my choice
to search
近
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