EduFarming
Your list · 0हिं

Type at least two letters. Press Esc to close.

↑↓ navigate↵ openTAB cycle filter

Production Function: TP, MP and AP · Question 54 of 62

Question 54

MediumOriginal question

Read the two statements and choose the correct option.

I. Returns to scale can be studied only in the long run.

II. Returns to scale assume that one factor is fixed.

Options for question 54

Show the answer and explanation
CorrectNot quiteAnswer A

Correct answer: A

Explanation

  1. I is true: all inputs can vary together only in the long run.

  2. II is false: under returns to scale no factor is fixed.

Concept
Conditions for returns to scale
Typical time
70 s
Your time
—
The rule this testsReturns to scale
Practise this chapter →

Ten questions from Production Function: TP, MP and AP, at your own pace.

Practise this chapter →

Ten questions from Production Function: TP, MP and AP, at your own pace.

Practise this chapterAll 62 questions in Production Function: TP, MP and APRevise the notes for Production Function: TP, MP and AP