When the Quantity of Labor Is Increased Substantially Without Increasing

question 36

Multiple Choice

When the quantity of labor is increased substantially without increasing the amount of capital, the firm experiences _____.

• A) economies of scope
• B) constant returns
• C) diminishing returns
• D) economies of scale

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Definitions:

Numerical Accuracy

The degree to which the result of a computation conforms to the correct value, affected by various factors including floating-point representation and algorithmic design.

Arguments

Arguments are values that are passed to a function, procedure, or command to customize its execution.

Variables

Elements in programming that are used to store data that can be changed during the execution of a program.

Function Name

The identifier given to a block of code that can be executed in a program, allowing for the segregation and reuse of code.