Constant returns to scale (CRS) implies ________
A) constant returns to labor
B) constant returns to capital
C) increasing marginal products
D) variable total factor productivity
E) diminishing marginal products
E
You might also like to view...
Refer to the table below. The law of diminishing marginal returns becomes evident after ________ units of output are produced.OutputPer DayNumber ofEmployeeHours Per Day00331662994132716511
A. 66 B. 33 C. 132 D. 99
The costs of organizing all the affected parties so that bargaining can take place are called
A) search costs. B) collectivization costs. C) negotiation costs. D) monitoring and enforcement costs.
In the history of the United States, unemployment reached its highest rate
A) in the Panic of 1893. B) in the 1930s. C) in the period between World War II and the Korean War. D) in the Great Recession of the late 2000s.
The price elasticity of supply for Good A is equal to 0 . Fifty units of Good A are supplied when its price is $40.0 . If the price of Good A increases to $44.80, its supply will: a. decrease to 44 units
b. increase to 56 units. c. increase to 54 units. d. remain the same at 50 units.