Question: A firm experiences __________________ if inputs are doubled and output more than doubles. Group of answer choices diminishing marginal product increasing returns to scale decreasing

A firm experiences __________________ if inputs are doubled and output more than doubles. Group of answer choices diminishing marginal product increasing returns to scale decreasing returns to scale diminishing marginal rate of technical substitution

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Over the next 50 years, the amount of rangeland in the western United States will likely a. Increase by 20 to 30% b. Decrease by 10 to 20% c. Remain the same

A firm experiences __________________ if inputs are doubled and output more than doubles. Group of answer choices increasing returns to scale decreasing returns to scale diminishing marginal product...

uantity Long-Run ATC ($) 0 300 1 280 2 270 3 510 4 550 Refer to Exhibit 8-11, which is a long-run average total cost (ATC) schedule. At 3 units of output, the firm's production is in Group of answer...

Question 11 A firm produces 100 units of output at a total cost of $1,000.We also know that its average fixed cost would be $5 if it were to produce 50 units.What is the firm's total variable cost...

its maccro i need detailed answers Exercises Question 1 ("Review of Production and Cost Functions, and Prot Mardoiization} Suppose each worker costs $1130 to hire. An example firm has the following...

ECON 3310 1.Which of the following situations would cause a decrease in supply in the market for computers? a.The price of computer chips, an input to produce computers, increases b.The price of...

1.Which of the following situations would cause a decrease in supply in the market for computers? a.The price of computer chips, an input to produce computers, increases b.The price of computers...

If a firm triples inputs and produces three times the output, then there are Group of answer choices constant returns to scale. increasing returns to scale. decreasing returns to scale. diminishing...

After 100 workers, each additional worker adds less and less additional output for a factory. This factory experiences _______________________. Group of answer choices increasing marginal rate of...

34. Suppose that when a firm increases its usage of all inputs by 100%, output increases by more than 100%. The rm experiences: decreasing returns to scale. diminishing marginal returns. increasing...

Beginning inventory 15 units @ $6 per unit, First purchase 30 units @ $7 per unit, First sale 25 units Second purchase 35 units @ $8 per unit Second sale 40 units Third purchase 20 units @ $9 per...

If accounts receivable increase by $1,000,000, inventory decreases by $500,000, and accounts payable increase by $500,000, net working capital would A decrease by $500,000 B increase by $1,500,000 C...

Question 3 0 Cells are used in cellular telephony to provide service for more customers Ogreater reliability Ogreater transmission speed all of the above

A parallel-plate air capacitor is made by using two plates 16 cm square, spaced 4.7 mm apart. It is connected to a 12-V battery. (a) What is the capacitance? (b) What is the charge on each plate? (c)...

The following events took place for Air Temp Manufacturing Company during January, the first month of its operations as a producer of digital thermometers: a. Purchased $68,000 of materials. b. Used...

Angela Corporation issues 2,000 convertible bonds at January 1, 2011. The bonds have a three-year life, and are issued at par with a face value of $1,000 per bond, giving total proceeds of...

Consider the unadjusted trial balance of Reliable Limo Service Company at June 30, 2012, and the related month-end adjustment data. Adjustment data at June 30 follow: a. Accrued service revenue at...

The adjusted trial balance of Party Piano Tuning Service, Inc., at fiscal year end May 31, 2012, follows. Requirements 1. Prepare Party's 2012 income statement. 2. Prepare the statement of retained...

Write a program to wish happy birthday to a student. Firstly, take today month and day as an input and secondly take birthday as an input in the form of month and day. If the input day and month...

Describe the three variances of an EV chart and explain their significance. LO6

Reconsider Exercise 2, assuming a fixed overhead cost of $30 per day but no project deadline. What is the least-cost crash program? What if the overhead cost was $40? What if it was $60? LO9

Given a network for an HR training project with normal times and crash times (in parentheses), find the cost-duration history. Assume indirect costs for facilities and equipment are $100 per day. The...