Constant returns to scale

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Constant returns to scale is when expanding all inputs does not change the average cost of production.

Definition

According to Principles of Economics by Timothy Taylor (3rd edition),

Constant returns to scale. When expanding all inputs does not change the average cost of production.

According to Macroeconomics by Mankiw (7th edition),

Constant returns to scale. A property of a production function whereby a proportionate increase in all factors of production leads to an increase in output of the same proportion.
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