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Author Question: A firm may express increasing, constant and decreasing returns to scale for various levels of ... (Read 54 times)

TVarnum

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on: Jul 1, 2018
A firm may express increasing, constant and decreasing returns to scale for various levels of output.
 
  Indicate whether the statement is true or false

Question 2

The spread between price and marginal cost of an exhaustible resource must grow by the rate of interest so that
 
  A) resource owners earn a profit.
  B) resource owners are willing to sell some of the resource in the future.
  C) the price of the resource remains constant in real terms.
  D) the marginal cost of extracting the resource declines.


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matt95

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

True . As output increases, a firm can experience all types of returns to scale.

Answer to Question 2

B


TVarnum

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Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

milbourne11

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Reply 3 on: Yesterday
:D TYSM

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