Please help awnsering these multiple choice questions which choices are correct for each of the questions?Thank you Happy New Year A firm trebles its inputs and discovers that its output rises by a factorof four.This is an example of;Select one or more:a. constant returns to scaleb. diminishing returns to a variable factorc. increasing returns to scaled. economies of scaleDiseconomies of scale are present when...Select one or more:a. marginal costs riseb. long run average costs rise as output risesc. total costs fall as output risesd. total costs rise as output risesIf the demand for a firm's product is price inelastic, this implies thatSelect one or more:a. price changes have no impact on quantity demandedb. a fall in price of 3% will lead to a decline in quantitydemanded of more than 3%c. a rise in price will raise total expenditure on the goodd. a 5% rise in price will result in a fall in quantity demandedof less than 5%

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A firm trebles its inputs and discovers that its output rises by a factor of four. This is an example of; Select one or more: a. constant returns to scale b. diminishing returns to a variable factor c. increasing returns to scale d. economies of scale

A firm trebles its inputs and discovers that its output rises by a factor of four. This is an example of; Select one or more: a. constant returns to scale b. diminishing returns to a variable factor c. increasing returns to scale d. economies of scale

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Please help awnsering these multiple choice questions which choices are correct for each of the questions?

Thank you

Happy New Year

A firm trebles its inputs and discovers that its output rises by a factor
of four.
This is an example of;
Select one or more:
a. constant returns to scale
b. diminishing returns to a variable factor
c. increasing returns to scale
d. economies of scale
Diseconomies of scale are present when...
Select one or more:
a. marginal costs rise
b. long run average costs rise as output rises
c. total costs fall as output rises
d. total costs rise as output rises
If the demand for a firm's product is price inelastic, this implies that
Select one or more:
a. price changes have no impact on quantity demanded
b. a fall in price of 3% will lead to a decline in quantity
demanded of more than 3%
c. a rise in price will raise total expenditure on the good
d. a 5% rise in price will result in a fall in quantity demanded
of less than 5%

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