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Use the Following Table to Answer the Questions

Question 23

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Use the following table to answer the questions :
Table 7-4 shows the shows the quantities of labor and capital required to produce various levels of output.
Use the following table to answer the questions : Table 7-4 shows the shows the quantities of labor and capital required to produce various levels of output.   -Refer to Table 7-4.When the firm increases production from 24 units of capital and 8 units of labor to 48 units of capital and 16 units of labor,the production function exhibits: A) decreasing marginal rate of technical substitution. B) constant returns to scale. C) increasing returns to scale. D) diminishing marginal returns
-Refer to Table 7-4.When the firm increases production from 24 units of capital and 8 units of labor to 48 units of capital and 16 units of labor,the production function exhibits:


A) decreasing marginal rate of technical substitution.
B) constant returns to scale.
C) increasing returns to scale.
D) diminishing marginal returns

Correct Answer:

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