A production manager notices that when she triples all of her inputs simultaneously, her output doubles. The production manager determines that for this range of output, the production function exhibits:
A) increasing returns to scale.
B) constant returns to scale.
C) decreasing returns to scale.
D) undefined returns to scale.
Correct Answer:
Verified
Q61: For a simple graph of a production
Q62: Let a firm's production function be
Q63: Technically inefficient points only exist with older
Q64: Identify the true statement.
A)Decreasing returns to scale
Q65: When the marginal product curve lies above
Q67: Technically inefficient points are points on the
Q68: Because the production function identifies the maximum
Q69: For a simple graph of a production
Q70: For a simple graph of a production
Q71: Suppose over time that a firm's production
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