« previous next »

Author Question: The above figure shows the isoquants for the production of steel. In which regions of production are ... (Read 201 times)

laurencescou

  • Hero Member
  • *****
  • Posts: 593
on: Jul 1, 2018
The above figure shows the isoquants for the production of steel. In which regions of production are there increasing, decreasing, and constant returns to scale?
 
  What will be an ideal response?

Question 2

The Cournot Model of Oligopoly assumes that
 
  A) firms decide what quantity to produce.
  B) firms make their decisions simultaneously.
  C) firms do not cooperate.
  D) All of the above.
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


kswal303

  • Sr. Member
  • ****
  • Posts: 316
Reply #1 on: Jul 1, 2018
Answer to Question 1

When output is less than 10,000 tons, there are increasing returns to scale. Between 10,000 and 20,000 tons, there are constant returns to scale. For output greater than 20,000 tons, there are decreasing returns to scale.

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

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?

About 100 new prescription or over-the-counter drugs come into the U.S. market every year.

Did you know?

Hip fractures are the most serious consequences of osteoporosis. The incidence of hip fractures increases with each decade among patients in their 60s to patients in their 90s for both women and men of all populations. Men and women older than 80 years of age show the highest incidence of hip fractures.

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

Did you know?

Asthma-like symptoms were first recorded about 3,500 years ago in Egypt. The first manuscript specifically written about asthma was in the year 1190, describing a condition characterized by sudden breathlessness. The treatments listed in this manuscript include chicken soup, herbs, and sexual abstinence.

Position of the lungs within the thoracic cavity; anterior view illustrating regions of the lungs an Position of the lungs within the thoracic cavity; anterior view illustrating regions of the lungs an
Views of the Milky Way’s Central Regions Views of the Milky Way’s Central Regions
The end of a typical line wrench, which shows that it is capable of grasping most of the head of ... The end of a typical line wrench, which shows that it is capable of grasping most of the head of ...
Some ignition coils are electrically connected, called married (top figure), whereas others use ... Some ignition coils are electrically connected, called married (top figure), whereas others use ...
Statuette of a Male Figure Statuette of a Male Figure
Mechanisms involved in production of metabolic alkalosis due to loss of gastric fluid Mechanisms involved in production of metabolic alkalosis due to loss of gastric fluid
Video: Sigmoidoscopy

For a complete list of videos, visit our video library