Use the Table Below to Answer the Following Questions

question 118

Multiple Choice

Use the table below to answer the following questions.
Table 11.4.1
Swanky's output levels

-Refer to Table 11.4.1, which represents Swanky's production possibilities as the firm varies the quantities of knitting machines and workers per day. If Swanky increases the number of knitting machines from 2 to 3 and increases the number of workers employed from 2 to 3, the factory experiences

• A)economies of scale.
• B)constant returns to scale.
• C)diseconomies of scale.
• D)constant marginal product.
• E)minimum efficient scale.

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Definitions:

Surety

A form of financial guarantee, wherein one party (the surety) agrees to take on the financial obligations of another if they default.

Reimbursement

The act of compensating someone for an expense incurred, often associated with business expenses or insurance claims.

Real Defense

A legitimate legal defense that can be used to void a contract or document, typically in cases of fraud or invalidity.

Principal Debtor

The primary individual or entity responsible for repaying a debt or fulfilling an obligation.