Increasing returns to scale result when
A) in the long-run, an increase in inputs will lead to an increase in the average products of inputs.
B) in the long run, an increase in inputs will lead to an equivalent increase in output.
C) labor becomes more skilled.
D) All of the above
A
You might also like to view...
A one percentage point change in the required reserve ratio would change the money supply by less than one percent, other things being equal
a. True b. False Indicate whether the statement is true or false
Producers of paper products are most likely to be in favor of
A. Free trade in the paper product market but protectionism in the lumber market. B. Protectionism in the paper product market but free trade in the lumber market. C. Free trade in the paper product market and the lumber market. D. Protectionism in the paper product market and the lumber market.