This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A firm whose production function displays increasing returns to scale will have a total cost curve ... (Read 56 times)

123654777

  • Hero Member
  • *****
  • Posts: 585
on: Jul 1, 2018
A firm whose production function displays increasing returns to scale will have a total cost curve that is
 a. a straight line through the origin.
  b. a curve with a positive and continually decreasing slope.
  c. a curve with a positive and continually increasing slope.
  d. a curve with a negative and continually decreasing slope.

Question 2

The expansion path for a constant-returns-to-scale production function
 a. is a straight line through the origin with a slope greater than 1 if w > v.
  b. is a straight line through the origin with a slope greater than 1 if w < v.
  c. is a straight line through the origin, though its slope cannot be determined by w and v alone.
  d. has a positive slope but is not necessarily a straight line.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

sultana.d

  • Sr. Member
  • ****
  • Posts: 320
Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

c


123654777

  • Member
  • Posts: 585
Reply 2 on: Jul 1, 2018
Wow, this really help

amcvicar

  • Member
  • Posts: 341
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

There are approximately 3 million unintended pregnancies in the United States each year.

Scale used to measure pupil size in millimeters. Scale used to measure pupil size in millimeters.
How to find the limit of a function using delta and epsilon How to find the limit of a function using delta and epsilon
Human of the planet's net primary production and appropriation of NPP Human of the planet's net primary production and appropriation of NPP
An Environmental Kuznets Curve An Environmental Kuznets Curve
Role of Factors of Production in Determining Growth, 1975–2009 Role of Factors of Production in Determining Growth, 1975–2009
Sketch the graph using the tables providing. Determine if each function is continuous or ... Sketch the graph using the tables providing. Determine if each function is continuous or ...
Video: Secondary Active Transport

For a complete list of videos, visit our video library