-The Above Figure Shows the Isoquants for Producing Steel

question 57

Multiple Choice

-The above figure shows the isoquants for producing steel.When producing less than 10,000 tons there are

• A) increasing returns to scale.
• B) decreasing returns to scale.
• C) constant returns to scale.
• D) diseconomies of scale.

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Definitions:

Vroom's Expectancy Theory

A theory of motivation that suggests an individual's behavior is determined by their expected results or outcomes of actions.

Likelihood

The chance or probability of a specific event occurring within a given context or set of circumstances.

Results

Outcomes or outputs arising from actions, processes, or events, often measured to assess performance or effectiveness.

Efforts

The amount of physical or mental energy put into a task or activity to achieve a goal.