A firm faces competitive markets both for its inputs and its outputs. If its long-run supply curve is q = 3p, then it cannot have constant returns to scale.

A firm faces competitive markets both for its inputs and its outputs. If its long-run supply curve is q = 3p, then it cannot have constant returns to scale.

A firm faces competitive markets both for its inputs and its outputs. If its long-run supply curve is q = 3p, then it cannot have constant returns to scale.




Answer: True