When isoquants get progressively closer together there is
A) increasing returns to scale
B) decreasing returns to scale
C) constant returns to scale
D) not enough information to determine
Correct Answer:
Verified
Q9: A production function measures how
A) a firm
Q11: If production is given by Q
Q12: If Q = K1/3L2 the MPL is
A)
Q14: If Q = K1/2L1/2 the MPK is
A)
Q15: If Q = K2L2 the MPK is
A)
Q16: If Q = K1/3L2 the MPK is
A)
Q17: If Q = K1/2L1/2 the MPL is
A)
Q18: Suppose Q = K
Q18: Suppose Q = K
Q33: The marginal physical product of labor is
A)the
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