If a firm has constant returns to scale, then doubling all of its inputs will just double its output
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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The saying that "There's no such thing as a free lunch" refers to the
A) spillover principle. B) marginal principle. C) principle of opportunity cost. D) reality principle.
Economics
Leontief explained his findings by arguing that U.S. labor is more efficient than their foreign counterparts
Indicate whether the statement is true or false
Economics
Would a profit-maximizing firm sell at a price where demand is inelastic? Explain
Economics
Hermione is considering an investment that has a ¾ chance of paying a 10 percent rate of return and a ¼ chance of paying 2 percent. What is the average expected rate of return on the investment?
A. 2 percent. B. 6 percent. C. 8 percent. D. 10 percent.
Economics