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Author Question: Does it make sense to consider the returns to scale of a production function in the short run? A) ... (Read 111 times)

moongchi

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on: Jul 1, 2018
Does it make sense to consider the returns to scale of a production function in the short run?
 
  A) Yes, this is an important short-run characteristic of production functions.
  B) Yes, returns to scale determine the diminishing marginal returns of the inputs.
  C) No, returns to scale is a property of the consumer's utility function.
  D) No, we cannot change all of the production inputs in the short run.

Question 2

The principal-agent problem of ownership vs. control of the corporation arises when owners and managers
 
  A) are the same people.
  B) pursue objectives that differ from those their customers wish them to pursue.
  C) pursue objectives that differ from those their workers wish them to pursue.
  D) pursue objectives that differ from those the government wishes them to pursue.
  E) pursue different objectives.


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scrocafella

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Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

E


moongchi

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Reply #2 on: Jul 1, 2018
Thank you


scrocafella

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Reply #3 on: Jul 1, 2018
No problemo


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