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QUESTION
If we are using 10 units of labor and 10 units of capital to produce 200 units of output and we double our labor and capital to 20 each and output
If we are using 10 units of labor and 10 units of capital to produce 200 units of output and we double our labor and capital to 20 each and output increases to 500, what kind of returns to scale do we have?Why?What does the LAC look like for this firm?
