Increasing returns to scale suggests that
...Increasing returns to scale suggests that
A firm can make a profit by reducing output
A firm can make more profit by increasing output
As the producer reduces the quantity of raw materials used, the marginal product will double
As the producer increases the quantity of raw materials used, the marginal product will fall
Correct answer is B
Increasing returns to scale is when the output increases in a greater proportion than the increase in input.
External dis-economies of scale result from excessive growth of ...
The grouping of the population according to the economic activities people engage in is ...
Contractionary monetary policy is used to ...
The most important goal of OPEC is to ...
One of the instruments of protection of infants industries is the ...
Which of the following statement is TRUE of the effect of changes in demand and supply on price? ...
Restrictive monetary policy is designed to curtail aggregate demand and to overcome________ ...
Balance of trade is define as the relationship between ...
Agricultural production in Nigeria could be improved through ...
Which of the following is an important function of prices in a market economy? ...