McqMate
Q. |
Which of the following statements describes increasing returns to scale: |
A. | Doubling the inputs used leads to double the output. |
B. | Increasing the inputs by 50% leads to a 25% increase in output. |
C. | Increasing inputs by 1/4 leads to an increase in output of 1/3. |
D. | None of the above. |
Answer» C. Increasing inputs by 1/4 leads to an increase in output of 1/3. |
View all MCQs in
Micro Economics 1No comments yet