Consider a firm that increases its inputs by 15 percent. For each scenario, state whether the firm
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Consider a firm that increases its inputs by 15 percent. For each scenario, state whether the firm experiences economies of scale, diseconomies of scale, or constant returns to scale.
a. Outputs increase 15 percent.
b. Outputs increase by less than 15 percent.
c. Outputs increase by greater than 15 percent.
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