If a company doubles all its inputs and discovers that it...
If a company doubles all its inputs and discovers that its output is more than doubled, we can say that the company is experiencing
Increasing Marginal utility
Diseconomies of scale
Increasing costs
Constant returns to scale
Increasing returns to scale
Correct answer is E
A company is said to be experiencing increasing returns to scale when the output increases by a larger proportion than the increase in inputs during the production process.
For example, if the input is increased by 3 times, but output increases by 3.75 times, then the firm or economy has experienced increasing returns to scale.
The following are reasons for failure of agricultural policies in West Africa except ...
The decision to consume more of one product under normal circumstances will apply ...
Above the equilibrium point, a further rise in price tends to ...
Fixing the prices of agricultural products can be a problem because of the ...
The major problem of conducing a census in Nigeria is ...
The flow labelled Y refers to ...
Which of the following will have a more destabilizing effect on the economy? ...
The definition of economics as 'the science which studies human behaviuor as a relationship betw...