1
answer
0
watching
481
views
goldcod978Lv1
28 Sep 2019
1. For a constant return to scale production function:
a. marginal costs are constant but the average cost curve as a U-shape
b. both average and marginal costs are constant
c. the marginal cost has a U-shape, average costs are constant
d. both average and marginal cost curves are U-shaped
2. The production function q = 10K +50L exhibits:
a. increasing returns to scale
b. decreasing returns to scale
c. constant returns to scale
d. none of the above
1. For a constant return to scale production function:
a. marginal costs are constant but the average cost curve as a U-shape
b. both average and marginal costs are constant
c. the marginal cost has a U-shape, average costs are constant
d. both average and marginal cost curves are U-shaped
2. The production function q = 10K +50L exhibits:
a. increasing returns to scale
b. decreasing returns to scale
c. constant returns to scale
d. none of the above
Chika IlonahLv10
28 Sep 2019