Multiple Choice
Suppose that capital and labor must be kept in a fixed proportion to produce a particular good.For example,digging a trench requires one worker who has one shovel.What does this imply about returns to scale?
A) There are constant returns to scale.
B) There are increasing returns to scale.
C) There are decreasing returns to scale.
D) Nothing.
Correct Answer:
Verified
Correct Answer:
Verified
Q20: A production possibilities frontier that is a
Q21: After 2 years of operation,the workers in
Q22: Carmela's pasta factory employs workers and pasta
Q26: Applications to MBA programs rose during the
Q27: Which of the following statements is NOT
Q29: Which of the following does NOT represent
Q30: If average cost is positive,<br>A)marginal cost equals
Q31: In the long run,fixed costs are<br>A) sunk.<br>B)
Q101: If a pharmaceutical firm is researching ways
Q102: Suppose that each worker must use only