QUESTION 1 Diminishing marginal returns: a. are consistent with increasing returns to scale Ob. imply decreasing returns to scale c. are not necessarily inconsistent with increasing returns to scale d. occur at all combinations of input usage e. occur only for labor
QUESTION 1 Diminishing marginal returns: a. are consistent with increasing returns to scale Ob. imply decreasing returns to scale c. are not necessarily inconsistent with increasing returns to scale d. occur at all combinations of input usage e. occur only for labor
Chapter11: The Firm: Production And Costs
Section: Chapter Questions
Problem 5P
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