Multiple Choice
If,as a result of doubling all its inputs,a firm can more than double its output,the firm's production function exhibits
A) constant returns to scale.
B) increasing returns to scale.
C) decreasing returns to scale.
D) increasing marginal productivity to at least one input.
Correct Answer:

Verified
Correct Answer:
Verified
Q3: The production function <span class="ql-formula"
Q4: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2264/.jpg" alt="
Q5: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2264/.jpg" alt=" With a quadratic
Q6: A fixed-proportion production function has isoquants that
Q7: Suppose electricity (E)can be produced with coal
Q9: The marginal rate of technical substitution of
Q10: The marginal physical product of labor is
Q11: A firm is defined as<br>A)a president,some vice
Q12: If Q = K<sup>1/3</sup>L<sup>2 </sup>the MP<sub>L</sub> is<br>A)constant<br>B)diminishing<br>C)increasing
Q13: If Q = K<sup>1/3</sup>L<sup>2</sup> the MP<sub>K</sub> is<br>A)constant<br>B)diminishing<br>C)increasing