A Firm's Production Process Shows Constant Returns to Scale

question 79

Multiple Choice

A firm's production process shows constant returns to scale.It can produce 5,000 widgets at a total cost of $2,500 and 10,000 widgets at an average cost of

• A)$10,000.
• B)$5,000.
• C)$2,000.
• D)$0.50.

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Definitions:

Auxiliary View

A supplementary orthographic view in drafting and engineering used to show features that are not fully visible or clear in the principal views.

True To Form

An expression denoting that an object is accurately made or shaped according to its design.

Number Of Times

The frequency or occurrence rate of an event or action.

Number Of Places

Refers to the specified number of locations or positions within a given context or setting.