What does it mean for a production process to exhibit

Reference no: EM13212150

What does it mean for a production process to exhibit "diminishing marginal returns" to all inputs?
What does it mean for a production process to exhibit "decreasing returns to scale"? If a production process exhibits diminishing marginal returns to each of its inputs, will it necessarily also exhibit decreasing returns to scale?

Reference no: EM13212150

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What does it mean for a production process to exhibit : What does it mean for a production process to exhibit "decreasing returns to scale" If a production process exhibits diminishing marginal returns to each of its inputs, will it necessarily also exhibit decreasing returns to scale

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