State if true, false or uncertain and Explain: A firm with constant returns to scale technology does not experience diminishing marginal product of labour. In a consumption savings model, a positive income effect will result in more consumption in the first period and, therefore, will reduce savings.

State if true, false or uncertain and Explain:

A firm with constant returns to scale technology does not experience diminishing marginal product of labour.

In a consumption savings model, a positive income effect will result in more consumption in the first period and, therefore, will reduce savings.

State if true, false or uncertain and Explain:

A firm with constant returns to scale technology does not experience diminishing marginal product of labour.

In a consumption savings model, a positive income effect will result in more consumption in the first period and, therefore, will reduce savings.

State if true, false or uncertain and Explain:

A firm with constant returns to scale technology does not experience diminishing marginal product of labour.

In a consumption savings model, a positive income effect will result in more consumption in the first period and, therefore, will reduce savings.

State if true, false or uncertain and Explain:

A firm with constant returns to scale technology does not experience diminishing marginal product of labour.

In a consumption savings model, a positive income effect will result in more consumption in the first period and, therefore, will reduce savings.