Based on the following table, which of the following statements is true? P TR MR TC MC $30 $15 --- --- $30 $30 $30 $25 $10 2 $30 $60 $30 $40 $15 3 $30 $90 $30 $60 $20 4 $30 $120 $30 $85 $25 $30 $150 $30 $115 $30 6 $30 $180 $30 $150 $35 A Expansion of output occurs because of increasing returns to scale. B Expansion of output causes diseconomies of scale to occur. Expansion of output causes input prices to rise as demand for inputs increases. Expansion of output leaves input prices constant as demand for inputs increases
Based on the following table, which of the following statements is true? P TR MR TC MC $30 $15 --- --- $30 $30 $30 $25 $10 2 $30 $60 $30 $40 $15 3 $30 $90 $30 $60 $20 4 $30 $120 $30 $85 $25 $30 $150 $30 $115 $30 6 $30 $180 $30 $150 $35 A Expansion of output occurs because of increasing returns to scale. B Expansion of output causes diseconomies of scale to occur. Expansion of output causes input prices to rise as demand for inputs increases. Expansion of output leaves input prices constant as demand for inputs increases
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter9: The Basic Tools Of Finance
Section: Chapter Questions
Problem 8PA
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