16. Increasing returns to scale are NOT found where! a. Overhead or fixed costs are dominant. b. Economies of scale in purchasing raw material inputs. c. There is substantial specialization in the production process. d. There are limitations to the availability of key inputs. e. There is a minimum scale in production such as producing vehicles or aircraft. 17. In the Burger Store constant returns to scale refers to: a. Ingredients such as ground beef and buns.

You want to travel to Las Vegas to celebrate spring break and your "A" in your microeconomics class! You are trying to figure out if you should drive or fly. A round trip airline ticket from Riverside to Las Vegas costs $350 and flying there and back takes about 5 hours. Driving roundtrip to Las Vegas costs about $50 in gas and takes about 10 hours. Other things constant, what is the minimum amount of money that you would have to expect to make by gambling in Las Vegas to induce you as a rational individual to fly rather than drive? O $10 an hour $60 an hour O $70 an hour O $300 an hour

Price elasticity measures the responsiveness of the quantity demanded or supplied to a good to a change in its price. Note: Select an option True False er than the Save Answer button will NOT save any changes to your answers!

please provide explanation. answer is incorrect