If a firm can double inputs and, thereby, more than double output over the range of output the market demands, it is said to be experiencing
a. decreasing minimum efficient scale
b. increasing returns to scale
c. constant returns to scale
d. decreasing returns to scale
e. increasing long run average cost
B
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The major factor contributing to the depreciation of the Euro in 1999 and 2000 was:
A) low interest rates in the U.S. relative to Europe. B) high interest rates in the U.S. relative to Europe. C) trade barriers in Europe. D) none of the above.
Define the following terms and explain their importance to the study of economics. a. common stock b. corporation c. limited liability d. plowback
What will be an ideal response?
If demand is elastic, and the government decides to raise the tax on new cars, the price of cars will increase by a ________ amount and car buyers will bear a ________ share of the tax.
A. large; large B. large; small C. small; large D. small; small
In a closed economy
A) I = Y - C - G. B) I = Y + C - G. C) I = Y - C + G. D) I = Y + C + G.