Solved

In the Long Run,a Firm Is Said to Be Experiencing

Question 3

Multiple Choice

In the long run,a firm is said to be experiencing decreasing returns to scale if a 10 percent increase in inputs results in


A) an increase in output from 100 to 110.
B) a decrease in output from 100 to 90.
C) an increase in output from 100 to 105.
D) a decrease in output from 100 to 85.

Correct Answer:

verifed

Verified

Related Questions

Q1: Isocost curves represent<br>A)least cost combinations of inputs.<br>B)combinations

Q2: An advantage of using the cross-sectional regression

Q4: Q = K<sup>1/2</sup>L<sup>1/2</sup><br>w = $2,r = $2<br>The

Q5: A firm that operates in Stage III

Q6: Assume a firm employs 10 workers and

Q7: Marginal rates of technical substitution (MRTS)represent<br>A)the optimum

Q8: _ functions are very useful in analyzing

Q9: How would you choose to estimate a

Q10: If MRP > MLC,it means that a

Q11: Output (Total Product)is maximized when<br>A)average productivity is