Increasing returns to scale are said to occur when:
A) the scale elasticity of output is positive.
B) the slope of the production function exceeds 1.
C) the scale elasticity of output exceeds 1.
D) the scale elasticity of output is increasing.
Correct Answer:
Verified
Q1: The demand for inputs is conditional on
Q2: For any homothetic production function:
A)the output- expansion
Q4: For a firm that experiences decreasing returns
Q5: A feasible input bundle lies:
A)above or on
Q6: Long run total costs are always:
A)a function
Q7: Holding output constant, the MRTS is:
A)the ratio
Q8: When returns to scale are decreasing, long
Q9: The scale- elasticity of output measures:
A)the slope
Q10: The Marginal Rate of Technical Substitution refers
Q11: An isocost line is defined as the
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