A firm uses workers and seed to grow lettuce. Its lettuce output rises from 100 tons to 200 tons when the number of workers increases from 25 to 75 . Its production process shows
a. decreasing returns to scale.
b. diminishing returns to labor.
c. increasing long-run average cost.
d. decreasing short-run average variable cost.
b
Economics
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The quantity demanded of a good is:
A) the amount of a good that sellers are willing to supply at a given market price. B) determined independent of the market price. C) always determined by government intervention. D) the amount of a good that buyers are willing to purchase at a given market price.
Economics
Nontraded securities are part of
A) direct, but not indirect finance. B) indirect, but not direct finance. C) direct and indirect finance. D) neither direct nor indirect finance.
Economics