Multiple Choice
If a farmer produces 1000 bushels of corn using ten acres of land and one tractor and is able to produce 2000 bushels of corn using twenty acres of land and one tractor,the farmer has
A) increasing returns to scale.
B) constant returns to scale.
C) decreasing returns to scale.
D) no returns to scale.
Correct Answer:
Verified
Correct Answer:
Verified
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
Q37: <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
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
Q43: Suppose the production of mp3 players can
Q44: The implementation of the assembly line is