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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