Which of the Following Is Possible in a 2-Input Production

question 16

Multiple Choice

Which of the following is possible in a 2-input production technology.

• A)The technology has increasing returns to scale but diminishing marginal product of all inputs.
• B)The technology has increasing returns to scale but diminishing marginal product of all but one input.
• C)The technology has decreasing returns to scale but increasing marginal product of one input.
• D)(a) and (b)
• E)(a) and C
• F)(b) and (c)
• G)None of the above
• H)All of the above

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Definitions:

Point-of-sale Terminals

Electronic devices used in retail locations to process card payments, managing sales and customer transactions directly at the time and place of purchase.

EFTA

The European Free Trade Association, an intergovernmental organization promoting free trade and economic integration to the benefit of its four European member states.

Unauthorized Use

The improper or illegal use of something without permission or beyond the scope granted by its owner or governing rules.

Legal Relations

Refers to the legally enforceable relationships between individuals or entities, governed by laws and statutes.