QUESTION 10 If a Cobb Douglas technology (with factors having strictly positive marginal product) has constant returns to scale, then O a. soquants must be linear Ob. Each factor of production has constant marginal product Oc Both factors of production must have decreasing marginal product O d At least on factor of production must have decreasing marginal product Oe. Both factors of production must have constant marginal product

QUESTION 10 If a Cobb Douglas technology (with factors having strictly positive marginal product) has constant returns to scale, then O a. soquants must be linear Ob. Each factor of production has constant marginal product Oc Both factors of production must have decreasing marginal product O d At least on factor of production must have decreasing marginal product Oe. Both factors of production must have constant marginal product

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The following is a table of cost for a toy manufacturing firm. The variable input is labor. Use this table to answer the following question. Average variable Average fixed cost Average Variable Quantity of toys Total costs cost total cost costs $0 $20 $10 A $40 В In the cell B, which number is correct? 10 O 5 none of these options is correct O 15
Ot
O Question 2 The average total cost curve is intersected at its minimum point by the average variable cost curve only. the marginal cost curve only. both the average variable cost curve and the marginal cost curve. neither the average variable cost curve or the marginal cost curve. T OL
Which of the following is always true? When marginal costs are less than average total costs, average total costs will be decreasing. When average fixed costs are falling, marginal costs must be less than average fixed costs. O When average fixed costs are rising, marginal costs must be greater than average total costs. When marginal costs are greater than average total costs, average total costs will be decreasing.
Question 6 A production function defines the output that can be produced: O A. as technology changes over time. B. if the firm is technically efficient. O C. for the average firm. O D. in a given time period if no additional inputs are hired. O E. at the lowest cost, given the inputs available.
A Share Zoom TVC TC AVC MC 0. 15 23 30 Answer the following questions:
6 In the production process, both the average product and marginal product of the variable input rise first, then fall, and then * rise to infinity True O False O
Multiple Choice Question, Pls solve quickly !!
Suppose the inputs of labour and capital each increase by 8% and output also increases by 8%. The production function exhibits_ returns to scale technology. a. Constant O b. Increasing O c. Decreasing O d. Zero
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Which one of the following statement is true about slope of fixed cost: Select one: O a. Slope of fixed cost function changes but changes with the activity levels change O b. Slope of fixed cost function remains constant but changes with the activity levels change O c. Slope of fixed cost function changes but remains linear after the change O d. Slope of fixed cost function changes but remains constant after the change
The short run is defined as the period of time: Select one: O a. in which all inputs are fixed O b. in which at least one input is fixed O c. O d. none of the answers provided is correct in which no inputs are fixed