Decide Whether or Not the Set Is Closed Under Addition

question 52

Multiple Choice

Decide whether or not the set is closed under addition.
-{2, 4, 6, 8, . . .}

• A)Closed
• B)Not closed

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Definitions:

Decreasing Returns To Scale

A situation where increasing the inputs proportionately results in less proportionate increases in output.

Profit-maximizing Output

The level of production at which a company achieves the highest possible profit, determined by the point where marginal revenue equals marginal cost.

Production Function

A mathematical representation of the relationship between inputs (like labor and capital) and the maximum output that can be produced with those inputs.

Profit-maximizing Quantity

The level of output at which a firm achieves the greatest profit, determined when marginal revenue equals marginal costs.