pital each increase by 8% and output also increases by 3%. The production function exhibits_ returns to scale technology. a. Constant b. Increasing

Q: Explain difference between Returns to Scale Returns to Factor.

A: The difference between returns to scale and returns to factors is as follows:-

Q: Costs 80 MC AVC ATC 120 160 180 200 Refer to the graph above to answer this question. What does…

A: Cost refers to all the expenses that incur in the process of production of goods or services. These…

Q: A period of time in which all factors of production and costs are variable is called Select one: a.…

A: Factors of production are assets that are the structure blocks of the economy; they individuals use…

Q: Ike's Bikes is a major manufacturer of bicycles. Currently, the company produces bikes using only…

A: To produce 100 bikes using 1 factory, short run average cost is $360.

Q: Define constant, decreasing and increasing returns to scale.

A: “Since you have asked multiple questions, we will solve the first question for you. If you  want any…

Q: 25 es A firm's long run total costs are given in the table below. Instructions: Round your answers…

A: DISCLAIMER  “Since you have asked multiple question, we will solve the first three question for you.…

Q: Which statement is nottrue regarding the total variable cost curve? Select one A. It shows the…

A: Hey, Thank you for the question. According to our policy, we can only answer 1 question per session.…

Q: Which statement is nottrue regarding the total variable cost curve? Select one O A It shows the…

A: The total variable cost is the cost incurred on the variable factors of production.

Q: hi  Suppose you build bird houses. One day, you double the time you spend building and double the…

A: Consider the definition of returns to scale. When we change all factors of production by a certain…