Explain constant-decreasing or increasing returns to scale, Microeconomics

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Explain constant-decreasing or increasing returns to scale

A firm hires two workers and rents 15 acres of land for a season. It produces 150,000 bushels of crop. If it had doubled its land and labor, production would have been 325000 bushels. Does it have constant, decreasing, or increasing returns to scale?

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Microeconomics: Explain constant-decreasing or increasing returns to scale

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Request for Solution File

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Microeconomics: Explain constant-decreasing or increasing returns to scale

Reference No:- TGS048360

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : Tax impact on the corporation

Q : Determine income elasticity of good

Q : Explain the interaction between carson company and secura

Q : What are ms. delaney''s professional responsibilities

Q : Explain constant-decreasing or increasing returns to scale

Q : What are the five basic principles of cash management

Q : Find liquidate stock earning a return

Q : What a mount of the total expenses should be allocated

Q : What is the largest total surplus that can be achieved

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Explain constant-decreasing or increasing returns to scale

Reference No:- TGS048360

Recent Questions Asked Microeconomics

Q : Tax impact on the corporation

Q : Determine income elasticity of good

Q : Explain the interaction between carson company and secura

Q : What are ms. delaney''s professional responsibilities

Q : Explain constant-decreasing or increasing returns to scale

Q : What are the five basic principles of cash management

Q : Find liquidate stock earning a return

Q : What a mount of the total expenses should be allocated

Q : What is the largest total surplus that can be achieved

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