Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Which of the following is NOT consistent with what we learned in the course? a. Constant returns to scale denote a case where a change

Which of the following is NOT consistent with what we learned in the course?

a.

Constant returns to scale denote a case where a change in all inputs leads to a proportional change in output.

b.

Economies of scope occur when a number of different products can be produced more efficiently together than apart.

c.

Decreasing returns to scale occur because of the law of diminishing returns.

d.

Increasing returns to scale are also called economies of scale.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Global Marketing

Authors: Johny K Johansson

5th Edition

0073381012, 9780073381015

More Books

Students also viewed these Economics questions

Question

2. It is the results achieved that are important.

Answered: 1 week ago

Question

7. One or other combination of 16.

Answered: 1 week ago