It costs a firm C(q) to produce q units of output. If C(q) = q° – q² what kind of returns to scale does this technology exhibit for q > 1/3? Decreasing returns to scale Increasing returns to scale Constant returns to scale

It costs a firm C(q) to produce q units of output. If C(q) = q° – q² what kind of returns to scale does this technology exhibit for q > 1/3? Decreasing returns to scale Increasing returns to scale Constant returns to 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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Concept explainers

Short-Run Costs and Long-Run Costs

Cost of short-run and the long-run is an economic term that describes the cost involved in the production of goods in a firm in the short as well as long period.

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Typed and correct answer please. I ll rate

It costs a firm C(a) to produce q units of output. If C(q) = q³ – q² what kind of returns to scale
does this technology exhibit for q>1/3?
Decreasing returns to scale
Increasing returns to scale
Constant returns to scale

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