Use the following table to answer the questions :
Table 7-4 shows the shows the quantities of labor and capital required to produce various levels of output.

-Refer to Table 7-4.When the firm increases production from 48 units of capital and 16 units of labor to 96 units of capital and 32 units of labor,the production function exhibits:
A)increasing returns to scale.
B)constant returns to scale.
C)diminishing marginal returns.
D)decreasing returns to scale.

Question

Use the following table to answer the questions :
Table 7-4 shows the shows the quantities of labor and capital required to produce various levels of output.

-Refer to Table 7-4.When the firm increases production from 48 units of capital and 16 units of labor to 96 units of capital and 32 units of labor,the production function exhibits:
A)increasing returns to scale. 
B)constant returns to scale. 
C)diminishing marginal returns. 
D)decreasing returns to scale.

Quizplus · Accepted Answer

The Answer of Use the following table to answer the questions :
Table 7-4 shows the shows the quantities of labor and capital required to produce various levels of output.

-Refer to Table 7-4.When the firm increases production from 48 units of capital and 16 units of labor to 96 units of capital and 32 units of labor,the production function exhibits:
A)increasing returns to scale. 
B)constant returns to scale. 
C)diminishing marginal returns. 
D)decreasing returns to scale.

Use the Following Table to Answer the Questions