The short run aggregate production function is subject to ________ if capital stock is increased, holding the total efficiency units of labor as constant
A) increasing returns to scale B) constant returns to scale
C) decreasing returns to scale D) the Law of Diminishing Marginal Product
D
Economics
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In the election of 1896, supporters of William McKinley included all of the following except:
a. advocates for the gold standard. b. voters opposed to high tariffs. c. industrial employers in the East. d. Republicans.
Economics
When entry and exit behavior of firms in an industry does not affect a firm's cost structure,
a. the long-run market supply curve must be horizontal. b. the long-run market supply curve must be upward-sloping. c. the long-run market supply curve must be downward-sloping. d. we do not have sufficient information to determine the shape of the long-run market supply curve.
Economics