Returns to scale is a concept that operates
A) only in the short run.
B) only in the long run.
C) in both the long run and the short run.
D) in either the long run or the short run, but never both.
B
Economics
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Investment in human capital
A. shifts the aggregate production function downward. B. shifts the LRAS to the left. C. shifts the aggregate production function upward. D. decreases the aggregate demand for labor.
Economics
In the Keynesian view, equilibrium takes place when
a. the real and nominal interest rates are equal. b. the level of total spending in the economy is equal to current output. c. current output is equal to the economy's long-run potential. d. the money supply is growing at a constant rate.
Economics