In a production process, all inputs are increased by 10%; but output increases less than 10%. This means that the firm experiences
A) decreasing returns to scale.
B) constant returns to scale.
C) increasing returns to scale.
D) negative returns to scale.
A
Economics
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Kevin owns a personal training gymnasium in Orlando. The above figure shows the demand and cost curves for his firm, which competes in a monopolistically competitive market. What price will Kevin charge per session?
A) $100 B) $60 C) $40 D) $20 E) $80
Economics
Everything else held constant, a decrease in net exports ________ aggregate ________
A) increases; demand B) decreases; demand C) decreases; supply D) increases; supply
Economics