QUESTION 33 Assume that over the long run, a firm increases their scale of operation and hires double the number of factors. If the firm's output increases from 100 milion units to 180 million units, then what can you say about this firm: Oa. the firm has experienced decreasing returns to scale Ob. the firm has experienced constant returns to scale Oc the firm has experienced increasing returns to scale d. none of the above

QUESTION 33 Assume that over the long run, a firm increases their scale of operation and hires double the number of factors. If the firm's output increases from 100 milion units to 180 million units, then what can you say about this firm: Oa. the firm has experienced decreasing returns to scale Ob. the firm has experienced constant returns to scale Oc the firm has experienced increasing returns to scale d. none of the above

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter11: The Firm: Production And Costs

Section: Chapter Questions

Problem 20P

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