-The Above Figure Shows the Isoquants for Producing Steel

question 13

Multiple Choice

-The above figure shows the isoquants for producing steel.Increasing returns to scale are

• A) present when producing less than 10,000 tons.
• B) present when producing less than 20,000 tons.
• C) present when producing less than 30,000 tons.
• D) never present.

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Definitions:

Null Hypothesis

In statistical analysis, the hypothesis that there is no effect or no difference, and any observed difference is due to sampling or experimental error.

Independent Variable

In an experiment, the variable that is manipulated or changed by the researcher to observe its effect on the dependent variable.

Research Hypothesis

A specific, testable prediction about the relationship between at least two variables in a population, based on theory or previous research.

Independent Variable

A variable that is manipulated by the researcher to observe its effect on the dependent variable.