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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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Answer:

The answer is 1.8407.

Explanation:

To calculate interest rate for 228 days we will first calculate daily rate and than put value in compounding rate formula.

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Interest rate 228 = (1+0.008%)^228-1  = 1.8407%

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<h3><u>What is supply?</u></h3>
  • A basic economic notion called supply refers to the total amount of a particular commodity or service that is made available to consumers.
  • When shown as a graph, supply can refer to the quantity that is offered at a particular price or the quantity that is offered over a range of prices.
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Trends in supply and demand are what underpin the modern economy. Based on price, utility, and personal choice, any particular commodity or service will have its own unique supply and demand patterns.

Know more about supply with the help of the given link:

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I need a sentence with the word carbon offset in it
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The tangible achievement always lies in the status of invisible movements of each welfare operations. But each step of inducing the effects of cost versus benefit test does not suit to provide the effective to identify the tangible achievements.  

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