Economics · Production and Costs
Constant returns to scale (CRS) is a property of a production function that holds true when ___________.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1a proportional increase in all inputs results in an increase in output by the exact same proportion✓
- 2a proportional increase in all inputs results in an increase in output by less than that proportion
- 3a proportional increase in all inputs may result in an increase in output by less than or more than that proportion
- 4a proportional increase in all inputs results in an increase in output by more than that proportion
Correct answer
a proportional increase in all inputs results in an increase in output by the exact same proportion
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