Economics · Theory of Production
When the sum of exponents exceeds one (a + b > 1) in the Cobb-Douglas production function, it indicates which of the following?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Variable returns to scale
- 2Decreasing returns to scale
- 3Increasing returns to scale✓
- 4Constant returns to scale
Correct answer
Increasing returns to scale
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