Decreasing returns to scale
A) indicate that an increase in all inputs by some proportion will result in a decrease in output.
B) must always occur at some point in the production process.
C) are directly related to the law of diminishing returns.
D) All of the above are true.
E) None of the above is true.
E
Economics
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An efficient allocation of resources is demonstrated by a point
a. above the production possibilities frontier. b. below the production possibilities frontier. c. on the production possibilities frontier. d. near the middle of the production possibilities frontier.
Economics
While oligopolies are generally inefficient, limit pricing may keep prices closer to competitive levels.
Answer the following statement true (T) or false (F)
Economics