Returns to scale refers to the production function where
A) all factors are fixed
B) some factors are fixed and others are variable
C) all factors are variable
D) none of the above
Correct Answer:
Verified
Q3: The variable cost of a firm vary
Q4: Law of variable proportions is concerned with
A)long-run
Q5: The 'point of inflection' come in which
Q6: A rational producer will select his level
Q7: Total product reaches at maximum when
A)mp is
Q9: In the case of diminishing returns to
Q10: Increasing returns to scale occurs due to
A)division
Q11: The cause for diminishing returns to scale
Q12: The solution to diminishing returns to scale
Q13: Which one of the following is not
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