In the Primary Metals Industry,it Is Estimated That the Elasticity

question 4

Multiple Choice

In the Primary Metals industry,it is estimated that the elasticity of output with respect to labor is 0.51 and the elasticity of output with respect to capital is 0.73.These two measures indicate that the primary metals industry is characterized by

• A) decreasing returns to scale.
• B) constant returns to scale.
• C) increasing returns to scale.
• D) no returns to scale.

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Definitions:

Stono Rebellion

A slave rebellion that began on September 9, 1739, in the colony of South Carolina, it was the largest slave uprising in the British mainland colonies prior to the American Revolution.

New York Conspiracy

A term that can refer to various historical events of alleged subversion and rebellion; if referring to the 1741 event, it was a supposed slave insurrection plot in New York City, though its actual extent remains debated.

Internal Disorder

Situations of chaos or unrest within a country, often due to political, social, or economic turmoil.

Virginia Baptist

A member of the Baptist denomination within the state of Virginia, known for their significant role in the religious and social history of the region.