The above figure shows the isoquants for producing steel. Constant returns to scale are
A) present when producing less than 10,000 tons.
B) present when producing between 10,000 and 20,000 tons.
C) present when producing more than 20,000 tons.
D) never present.
B
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If the government attempts to force a natural monopoly to charge a price equal to marginal cost,
A) the natural monopoly will shut down. B) the natural monopoly will still make high profits. C) the natural monopoly's marginal cost curve will shift up. D) total welfare is maximized.
Serena purchased 10 shares of GLC, Inc stock for $200 per share; one year later she sold the 10 shares for $220 a share. Over the year, the price level increased from 135.0 to 143.1 . The tax rate on capital gains is 50 percent. If the capital gains tax is on nominal gains, how much tax does Serena pay on her gain?
a. $90 b. $95 c. $100 d. None of the above is correct.
The multiplier can be calculated by dividing:
a. The initial change in spending by the change in real GDP b. One by one minus the marginal propensity to invest c. The change in real GDP by the initial change in spending d. One by one minus the marginal propensity to save
For years, your parents claimed they had no desire to join a social web site. Recently, however, they joined one and said they did so because all their relatives have joined the same site with them. Your parents' behavior is an example of
A. a network effect. B. the impact of negative market feedback. C. the impact of perfectly competitive market feedback. D. a switching cost.