Read the Measurement Shown on the Vernier Caliper in Inches

question 184

Multiple Choice

Read the measurement shown on the vernier caliper in inches.

• A) 17.03 in.
• B) 1.703 in.
• C) 16.03 in.
• D) 2.253 in.
• E) 1.603 in.

---

Definitions:

Returns to Scale

The change in output resulting from a proportional change in all inputs (factors of production); it identifies whether increasing inputs leads to proportionate, more than proportionate, or less than proportionate changes in output.

Marginal Cost Curve

A graphical representation that shows how the cost of producing one more unit of a good varies as the quantity of production increases.

Average Cost Curve

A graphical representation that shows how the cost per unit of producing a good changes with changes in the volume of output.

Cost-output Elasticity

Cost-output elasticity measures the responsiveness of production costs to changes in the quantity of output produced, indicating how cost-efficiently a firm can adapt to changes in production volume.