Author Question: If a firm's output more than doubles when all inputs are doubled, production is said to occur under ... (Read 122 times)

KWilfred · **on:** Jun 30, 2018

If a firm's output more than doubles when all inputs are doubled, production is said to occur under conditions of

A) increasing returns to scale.
B) imperfect competition.
C) intra-industry equilibrium.
D) constant returns to scale
E) decreasing returns to scale.

Question 2

Based on the theory of comparative advantage, nations maximize their well being when they

A) create more jobs.
B) allocate resources more efficiently.
C) increase trade surpluses.
D) increase exports.