To produce 150 units of output, a firm must use 3 employee-hours. To produce 300 units of output, the firm must use 8 employee-hours. Apparently, the firm is:
A) producing in the long run.
B) experiencing diminishing returns.
C) not using any fixed factors of production.
D) experiencing negative returns.
Correct Answer:
Verified
Q43: Which of the following is the most
Q45: A variable factor of production:
A)is fixed in
Q48: The long run is best defined as:
A)one
Q53: The table below describes the relationship
Q54: Refer to the figure below. As
Q54: Which of the following is the most
Q56: If a firm spends $400 to produce
Q61: Refer to the figure below. At quantities
Q62: Suppose a firm uses workers and
Q63: The table below shows a pizzeria's
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents