If a farmer produces 1000 bushels of corn using ten acres of land and one tractor and is able to produce 2000 bushels of corn using twenty acres of land and one tractor, the farmer has
A) increasing returns to scale.
B) constant returns to scale.
C) decreasing returns to scale.
D) no returns to scale.
A
Economics
You might also like to view...
While economic regulation applies to ________ industries, social regulation applies to ________ firms
A) particular; individual B) particular; all C) all; individual D) utility; healthcare
Economics
The factor accounting for the largest increase in the productivity of labor in the United States has been:
A. The education and training of workers B. Improved resource allocation C. The quantity of capital D. Technological advance
Economics