A short-run production function at some point becomes flatter due to:
A) Decreasing returns to scale.
B) Increasing returns to scale.
C) The fact that a firm has to hire poorer quality workers as production increases.
D) Diminishing marginal product.
E) None of the above.
Correct Answer:
Verified
Q1: Which statement is true?
A)Marginal cost intersects the
Q2: Which statement is FALSE?
A)A firm cannot experience
Q3: In the long run:
A)A firm can vary
Q5: Which statement is true?
A)Long-run average costs are
Q6: A firm has a short-run cost function
Q7: A firm's short-run MC curve:
A)Is eventually upwards
Q8: In the short run:
A)At least one factor
Q9: Which statement is true?
A)Marginal cost always lies
Q10: A firm has a short-run cost function
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