If doubling the quantity of inputs more than doubles the quantity of outputs, the firm is experiencing
A. increasing returns to scale.
B. decreasing returns to scale.
C. constant returns to scale.
D. increasing costs per unit of output.
Answer: A
You might also like to view...
If you want to purchase a new sports car in four years for $75,000, how much would you need to have in your bank account now, so after four years you will have $75,000 to buy the car? Assume your bank pays 6 percent interest
A) $51,226 B) $59,408 C) $60,484 D) $70,755
Rational ignorance means
A) ignorance is rationed. B) the benefit from some information is not worth the cost of collecting it. C) some people do not understand rationality. D) the information is unavailable.
At a monopolistically competitive firm's current level of product development, marginal revenue of product development is greater than its marginal cost. The firm will ________
A) sell only new products B) increase product development only if the consumer benefits C) decrease product development D) increase product development
Answer the following statements true (T) or false (F)
1. In a market economy, resources are allocated by the government. 2. In a market system, the government enforces laws ensuring that private enterprises and conditions of competition will prevail. 3. The most common type of business in the United States is the corporation. 4. The vast majority of U.S. businesses have more than 500 employees each.