When Input Prices Are Fixed,decreasing Returns to Scale Implies That

question 43

Multiple Choice

When input prices are fixed,decreasing returns to scale implies that the long-run average cost curve is

• A) downward sloping.
• B) horizontal.
• C) upward sloping.
• D) U-shaped.

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Definitions:

Mechanistic Metaphysics

A philosophical viewpoint that regards natural processes as mechanically determined and capable of explanation by laws of physics and chemistry.

Non-teleological

Pertaining to theories or viewpoints that reject the existence of ultimate purposes or ends in natural phenomena or human activities.

Substance Interaction

The notion in philosophy that distinct substances (such as mind and body) have causal relations or can affect each other.

Descartes

A French philosopher, mathematician, and scientist, often referred to as the father of modern philosophy, known for his statement, "I think, therefore I am."