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.
A
You might also like to view...
The loss of efficiency that occurs in monopolistic competition has to be weighed against the gain of
A) higher wages for employees. B) an increase in employment. C) greater product variety. D) reduced environmental damage.
Which of the following is infrastructure?
a. Schools. b. Roads. c. Public health and sanitation services. d. All of these.
Which of the following is not a basic monetary policy tool used by the Fed?
A. Deposit insurance B. The reserve requirement C. The discount rate D. The sale and purchase of Treasury bonds
Which of the following is not a function of the Fed?
A) to provide check-clearing services B) to hold depository institutions' reserves C) to serve as the government's banker D) to serve as the borrower of last resort E) none of the above