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9. If the quantities of all inputs are increased by thirty percent and output expands by twenty-five percent, then the firm is experiencing: A) constant
9. If the quantities of all inputs are increased by thirty percent and output expands by twenty-five percent, then the firm is experiencing: A) constant returns to scale. B) increasing returns to scale. C) decreasing returns to scale. D) no returns to scale. 10. The shut down condition - the point where the company finds it is no longer viable to produce and sell a product - for a competitive firm is where price is: A) less than marginal revenue. B) less than short run average total cost. C) greater than marginal revenue. D) less than average variable cost
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