A firm may express increasing, constant and decreasing returns to scale for various levels of output
Indicate whether the statement is true or false
True . As output increases, a firm can experience all types of returns to scale.
Economics
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Most economists are opposed to the "living wage" concept in foreign labor agreements because:
a. it is barely enough for survival. b. most workers in low-income nations already earn more. c. workers should never earn more than the managers. d. it is well above the market wage, and many workers in poor nations would lose the opportunity to be employed.
Economics
Based on the answer above, the price for bus rides _____________ and the quantity demanded for rides ____________
a. Decreases; decreases b. Decreases; increases c. Decreases; uncertain d. Increases; uncertain
Economics