Question
9. TRUE or FALSE Total Variable costs depend on the firm's level of output. 24-When a firm increases its inputs or variable resources by 20%
9. TRUE or FALSE Total Variable costs depend on the firm's level of output.
24-When a firm increases its inputs or variable resources by 20% and its output rises by 15%, it is said to be experiencing:
A. average returns to scale.
B. economies of scale.
C. diseconomies of scale.
D. constant returns to scale
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Macroeconomics Principles Applications and Tools
Authors: Arthur O'Sullivan, Steven Sheffrin, Stephen Perez
9th edition
978-0134089027, 134089022, 978-0134420684
