In the Primary Metals Industry,it Is Estimated That the Elasticity

question 4

Multiple Choice

In the Primary Metals industry,it is estimated that the elasticity of output with respect to labor is 0.51 and the elasticity of output with respect to capital is 0.73.These two measures indicate that the primary metals industry is characterized by

• A) decreasing returns to scale.
• B) constant returns to scale.
• C) increasing returns to scale.
• D) no returns to scale.

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Definitions:

Employees Sick

Refers to the number or proportion of workers unable to work due to illness.

Ace Of Spades

Often considered the highest card in a deck of playing cards.

King Of Spades

A playing card in the standard deck that bears the image of a king and the spade suit symbol.

Standard Deviation

A measure of the dispersion or variability of a set of values, indicating how much the values differ from the mean of the set.