If a firm's output doubles when all inputs are doubled, production is said to occur under conditions of
A) increasing returns to scale.
B) imperfect competition.
C) intra-industry equilibrium.
D) constant returns to scale
E) decreasing returns to scale.
D
Economics
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Refer to Figure 11-7. When the output level is 100 units average fixed cost is
A) $10. B) $8. C) $5. D) This cannot be determined from the diagram.
Economics
What are inventories? What usually happens to inventories at the beginning of a recession, and what usually happens to inventories at the beginning of an expansion?
What will be an ideal response?
Economics