0
In a production process if all inputs get tripled, then which of the following statements will follow?
I. If output is tripled, then decreasing returns to scale holds.
II. If output gets doubled, then constant returns to scale holds.
III. If output is more than tripled, then increasing returns to scale holds.
I. If output is tripled, then decreasing returns to scale holds.
II. If output gets doubled, then constant returns to scale holds.
III. If output is more than tripled, then increasing returns to scale holds.
- AOnly III
- BI and II
- COnly II
- DI and III
Correct answer: A