Multiple Choice
-The above figure shows the isoquants for producing steel.When producing more than 20,000 tons there are
A) increasing returns to scale.
B) decreasing returns to scale.
C) constant returns to scale.
D) economies of scale.
Correct Answer:
Verified
Correct Answer:
Verified
Q32: If the average productivity of labor equals
Q33: Suppose firms A and B each make
Q34: Provide a graph and an explanation to
Q35: Each additional worker produces two extra units
Q36: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6808/.jpg" alt=" -The above figure
Q38: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6808/.jpg" alt=" -The above figure
Q39: If a farmer produces 1000 bushels of
Q40: Since 1999,the number of small state-owned enterprises
Q41: Suppose the production function for T-shirts can
Q42: Thomas Malthus' prediction of mass starvation resulting