Which of the following statements describes increasing returns to scale:

Related MCQs

• Which of the following statements describes the presence of diminishing returns. Holding at least one factor constant …....
• The law of diminishing marginal returns is encountered as increasing amounts of labour are hired because:
• Whenever marginal product is increasing with increasing use of an input,
• The total product curve may initially show output increasing at an increasing rate as more labour is hired because of the:
• Which of the following statements best describes the general form of a production function: (i) It is a purely technological relationship between quantities of input and quantities of output. (ii) It represents the technology of an organisation, sector of an economy. (iii) Prices of inputs or of the output do not enter into the production function. (iv) It is a flow concept describing the transformation of inputs into output per unitof time.
• The law of diminishing returns only applies in cases where:
• Diminishing marginal returns are most compatible with:
• Whenever marginal product is declining with increasing use of an input,
• A firm encountering economies of scale over some range of output will have a:
• Economies of scale exist if: