Economics · Production and Costs
A more than proportional increase in output due to a proportional increase in all inputs is known as:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Law of Variable Proportions
- 2Increasing Returns to Scale (IRS)✓
- 3Diminishing Returns to Scale (DRS)
- 4Constant Returns to Scale (CRS)
Correct answer
Increasing Returns to Scale (IRS)
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