In the Primary Metals industry,it is estimated that the elasticity of output with respect to labor is 0.51 and the elasticity of output with respect to capital is 0.73.These two measures indicate that the primary metals industry is characterized by

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The primary metals industry has an output elasticity of labor of 0.51 and an output elasticity of capital of 0.73, both of which are less than one. This indicates that the industry has increasing returns to scale, where a proportionate increase in both inputs leads to more than a proportionate increase in output.

In the Primary Metals Industry,it Is Estimated That the Elasticity