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Increase physical capital alone, holding all other production function elements constant, cannot generate sustained growth in standards of living because?   capital is subject to diminishing returns   economies have constant returns to scale   countries need money to purchase capital   capital is not that important to production

Increase physical capital alone, holding all other production function elements constant, cannot generate sustained growth in standards of living because?   capital is subject to diminishing returns   economies have constant returns to scale   countries need money to purchase capital   capital is not that important to production

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Increase physical capital alone, holding all other production function elements constant, cannot generate sustained growth in standards of living because?

 

capital is subject to diminishing returns

 

economies have constant returns to scale

 

countries need money to purchase capital

 

capital is not that important to production

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