You bake cookies. One day you double the time you spend, double the number of chocolate chips, flour, eggs, and all your other inputs, and bake twice as many cookies. Your cookie production function has
a. decreasing returns to scale.
b. zero returns to scale.
c. constant returns to scale.
d. increasing returns to scale.
c
Economics
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Refer to the table above. If the market price of wine is $4/bottle, and the market demand for wine is 65 bottles, Sandra's demand for wine is:
A) 18 bottles. B) 40 bottles. C) 47 bottles. D) 111 bottles.
Economics
If you believe that the economy can achieve full employment without inflation through tax reductions, spending cuts, and deregulation, you are a member in good standing in the
a. classical school b. Keynesian school c. neo-Keynesian school d. rational expectations school e. supply-side school
Economics