Is it true that for any production function diminishing marginal return to each factor implies decreasing...

Is it true that for any production function diminishing marginal return to each factor implies decreasing returns to scale? (with proof using the general production function, if possible)

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Rahul Sunny answered 15 hours ago

8. Can a production function have diminishing marginal returns to a factor of production and constant...

8. Can a production function have diminishing marginal returns to a factor of production and constant returns to scale simultaneously? Why or why not?

the marginal utility for all product exhibit diminishing marginal return in true for

It is possible to have diminishing marginal returns to a single factor of production and constant...

It is possible to have diminishing marginal returns to a single factor of production and constant returns to scale at the same time. Discuss. A. The statement is true. As long as only one input has diminishing marginal returns, it is possible to have constant returns to scale. B. The statement is false. If an input exhibits diminishing marginal returns, then doubling that input will result in less than double the output. C. The statement is false. The terms 'marginal...

3. True or false and explain. Almost all production function exhibit diminishing marginal rate of technical...

3. True or false and explain. Almost all production function exhibit diminishing marginal rate of technical substitution. therefore, all production functions must also exhibit decreasing returns to scale.

Consider a model with no savings, a production function with positive, but diminishing marginal product and...

Consider a model with no savings, a production function with positive, but diminishing marginal product and a household with a utility function utility = u(c, l), where c is consumption and l is work effort. The marginal utility from consumption is positive, MU(c)>0, but the marginal utility from work effort is negative, MU(l)<0. Both marginal utilities diminish. In this model argue that the utility household will adjust its consumption and work effort until the marginal utility benefit for an additional...

Explain the principle of the cost of production, Diminishing Marginal Productivity , Diminishing Marginal Utility in...

Explain the principle of the cost of production, Diminishing Marginal Productivity , Diminishing Marginal Utility in microeconomics. ( minimum a paragraph for each)

Explain the law of diminishing marginal utility & the law of diminishing return.

Explain why diminishing marginal utility implies that a decision-maker will be risk-averse.

44. Diminishing marginal product of labor implies that the Group of answer choices total cost of...

44. Diminishing marginal product of labor implies that the Group of answer choices total cost of output is increasing at a decreasing rate. marginal cost of an extra unit of output is decreasing. total product of labor is decreasing at an increasing rate. marginal cost of an extra unit of output is increasing. total cost is increasing at a decreasing rate. 34. Suppose that to start up his own firm, Bob quits a $50,000/year job, withdraws $40,000 from his bank...

What is the difference between decreasing returns to scale and diminishing marginal product? [5 pts.]

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