Home

What is the correct answer?

4

Returns to scale is a:

A. Timeless phenomenon

B. Short run phenomenon

C. Long run phenomenon

D. None of the above

Correct Answer :

C. Long run phenomenon


Related Questions

7.In an economy based on the price system the decision on what shall be… If demand is elastic and supply is inelastic then the burden of a tax… The monopolist who is producing the same output from two (or more than… The Modern and Neo-Keynsian Theory of Interestwas presented by: The isoquant which are generated by CES (constant elasticity of substitution)… If by doubling all inputs in the long run output is less than double,… If a commodity sold under monopoly is got free of cost, then MC will be: The isoquant approach is based upon: The supply curve would probably shift to the right if: In cournot model, each firm expects a reaction from his rival but the… When a consumer reached at the point of saturation then marginal utility… The Chamberline model recognizes mutual: If, at the prevailing price, more of a good is desired than is available… The average fixed cost (AFC) curve is asymptote to: Suppose income increases by 10% and demand for commodity increases by… The slope of budget line shows the price ratios of: If production increases under constant returns to scale, the cost will: Moving along the indifference curve leaves the consumer: In monopoly, the relationship between average revenue and marginal revenue… Indifference curve approach (ordinal approach) is superior to utility… By increasing the price of its products above those of its competitors,… Under which of the following forms of the market structure does a firm… The consumer is in equilibrium at the where: In monopolistic competition, the firm compete on the basis of: At a point below the middle of a straight line demand curve, elasticity… Excess capacity is not found under: Elasticity of demand is equal to unity while marginal revenue is: The economic problem of determining the combination of inputs yielding… A normal profit is: The critics of Sweezy model say that kink generates: