If a Firm Increases Inputs by 15 Percent and Output

question 208

Multiple Choice

If a firm increases inputs by 15 percent and output increases by 12.5 percent, the firm is experiencing

• A)increasing returns to scale.
• B)decreasing returns to scale.
• C)constant returns to scale.
• D)increasing costs per unit of output.

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Definitions:

Ethical Arguments

Discussions or considerations regarding what is morally right or wrong, often reflecting societal norms or personal values.

Handicapped Parking

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Universal-Ethical Principles

A set of core ethical guidelines that are believed to be universally applicable to all humans, advocating for fairness, justice, and human rights.

Kohlberg

Refers to Lawrence Kohlberg, a psychologist best known for his theory of moral development, which proposes that ethical reasoning progresses through distinct stages.