If production is given by Q = KL, doubling both inputs
a. more than doubles output.
b. exactly doubles output.
c. increases output but does not double it.
d. leaves output unchanged.
a
Economics
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If the account manager does NOT use a Federal Reserve reverse repurchase agreement or a matched sale-purchase transaction in carrying out open market operations, he will use
A) an outright purchase or sale. B) a limited-duration purchase or sale. C) an indirect purchase or sale. D) a reverse duration purchase or sale.
Economics
The model of monopolistic competition assumes that
a. there are only a few sellers b. there are significant barriers to exit c. each firm charges the same price for its output d. the buyers are price setters e. firms are strategically independent
Economics