A) increasing returns to scale.
B) decreasing returns to scale.
C) first increasing and then decreasing returns to scale.
D) constant returns to scale.
E) first decreasing and then increasing returns to scale.
G) All of the above
Correct Answer
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Correct Answer
verified
A) PKMPK = PLMPL.
B) MPK = MPL.
C) PLMPK = PKMPL.
D) MPK /MPL = PL /PK.
E) none of the above.
G) A) and E)
Correct Answer
verified
Correct Answer
verified
A) imply decreasing returns to scale.
B) occur at all combinations of input usage.
C) occur only for labor.
D) are consistent with increasing returns to scale.
E) are inconsistent with increasing returns to scale.
G) A) and D)
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verified
Correct Answer
verified
A) feed everyone in the world by intensively cultivating one acre of land.
B) manufacture all of the cars in the world using just one of the world's existing factories.
C) increase total output of a product without employing additional inputs.
D) All of the above.
E) a and b.
G) B) and C)
Correct Answer
verified
Correct Answer
verified
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