Brett, who is a chef, divides his time between fishing and cooking meals. His production set is described by the equation , where is the number of salmon he catches and y the number of meals he cooks. If Brett catches 5 salmon and cooks 2 meals,
a. he is overusing his resources.
b. the result is economically efficient.
c. the result is economically inefficient.
d. he is achieving the best possible outcome.
Question 2
A positively sloped long run average cost implies:
a. economies of scale.
b. constant returns to scale.
c. diseconomies of scale.
d. diminishing marginal returns to a factor.
e. increasing returns to scale.
Production of Saliva
In middle childhood, children spend increasing amounts of time with peers and friends.
Fossil fuels production
Continental Drift: An Idea Before Its Time
A time map of the genes studied in the experiment