A Firm Has the Production Function F(x, Y) = X¹

question 11

Multiple Choice

A firm has the production function f(x, y) = x^1.20y². This firm has

• A) constant returns to scale.
• B) decreasing returns to scale and increasing marginal product for factor x.
• C) increasing returns to scale and decreasing marginal product for factor x.
• D) decreasing returns to scale and diminishing marginal product for factor x.
• E) None of the above.

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Definitions:

Job Posting

The process by which a company internally advertises job vacancies to current employees to encourage promotions and transfers.

Headhunting

A targeted recruitment process in which specialized recruiters seek out highly qualified candidates for specific positions, often for senior-level roles.

Contrast Error

Occurs when we compare people against one another instead of against an objective standard.

Nonrelevancy Error

An error made during the employee appraisal process where information irrelevant to job performance influences the evaluation.