If a firm triples inputs and produces three times the output, then there are
A) constant returns to scale.
B) diminishing marginal product.
C) decreasing returns to scale.
D) increasing returns to scale.
A
Economics
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Refer to the graph below. One U.S. dollar will purchase how many Japanese yen?
Assume that Japan and the United States are engaged in a system of flexible exchange rates.
A. 80
B. 120
C. 125
D. 140
Economics
If an increase in the price of good X leads to a decrease in the demand for good Y, then:
A. good X and good Y are substitutes. B. good X and good Y are normal goods. C. good X and good Y are complements. D. good X is a normal good and good Y is an inferior good.
Economics