Multiple Choice
If the sum of the exponents of a Cobb-Douglas production function is equal to 1.2, the production function exhibits:
A) increasing returns to scale.
B) constant returns to scale.
C) diminishing marginal returns.
D) declining productivity.
E) increasing average costs.
Correct Answer:
Verified
Correct Answer:
Verified
Q41: <span class="ql-formula" data-value="\lambda"><span class="katex"><span class="katex-mathml"><math xmlns="http://www.w3.org/1998/Math/MathML"><semantics><mrow><mi>λ</mi></mrow><annotation encoding="application/x-tex">\lambda</annotation></semantics></math></span><span
Q42: Crew Brew produces a popular brand of
Q43: Which of the following production functions displays
Q44: Which of the following is true of
Q45: The following table shows the total
Q46: Sleak Teak builds yard furniture, using domestic
Q47: The following table shows the total
Q49: If a production function is expressed in
Q50: Explain how the optimal usage of the
Q51: Enpar manufactures engine parts for an automotive