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en:elasticity-of-production [2019/02/06 07:52] federico [Elasticity of Production] |
en:elasticity-of-production [2019/02/06 07:52] (current) federico [Elasticity of Production] |
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| - if the elasticity of production is 1, the production has **constant returns to scale**, at that point. | - if the elasticity of production is 1, the production has **constant returns to scale**, at that point. | ||
| - | - if the elasticity of production is greater than one, the production has increasing returns to scale at that point. | + | - if the elasticity of production is greater than one, the production has **increasing returns to scale** at that point. |
| - | - if the elasticity of production is less than one, the production has decreasing returns to scale at that point. | + | - if the elasticity of production is less than one, the production has **decreasing returns to scale** at that point. |