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barxatty [35]
3 years ago
5

If bread is produced by using a constant returns to scale production function, then if the: A) number of workers is doubled, twi

ce as much bread will be produced. B) amount of equipment is doubled, twice as much bread will be produced. C) amounts of equipment and workers are both doubled, twice as much bread will be produced. D) amounts of equipment and workers are both doubled, four times as much bread will be produced
Business
1 answer:
nekit [7.7K]3 years ago
5 0

Answer: Option (C) is correct.

Explanation:

Constant returns to scale production function: When there is an increase in inputs (i.e capital and labor) as a result output increases by the same proportion.

For example: If the amounts of equipment and workers are both doubled in the production of bread then as a result the output of bread also doubled.

Suppose the capital and labor increases by 10% then as a result output also increases by 10%.

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3 years ago
On January 1, Year 5, customers owed Eagle $40,000. On December 31, Year 5, customers owed Eagle $30,000. Eagle uses the direct
irinina [24]

Answer:

$200,000

Explanation:

The computation of the net revenue is shown below:

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2 years ago
An argument for trade tariffs is that it protects infant industries.
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Answer:

The infant industry argument is an economic rationale for trade protectionism. The core of the argument is that nascent industries often do not have the economies of scale that their older competitors from other countries may have, and thus need to be protected until they can attain similar economies of scale.

4 0
2 years ago
Which type of technology is best for laying out financial projections?
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5 0
2 years ago
For each of the scenarios, calculate the surplus and indicate if it is a producer surplus or a consumer surplus. Alice is willin
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Answer:

Producer surplus.

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