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What are constant returns to scale?
Constant returns to scale:
A constant return to scale (CRS) implies that doubling inputs precisely double outputs, which is frequently a reasonable assumption to make concerning technologies. Decreasing returns to scale implies that doubling inputs are less than doubling outputs. And also increasing returns to scale implies that doubling inputs are more than doubling outputs.
please can you explainn what "down 0.1 percentage point on the quarter means"?
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how slustky equation provides neat analytical expression for substitution and income effect?
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