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

question 2

Multiple Choice

A firm has the production function f(x, y) = x^1.10y¹. This firm has

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

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Definitions:

Retrieval

The method of bringing forward and becoming aware of data kept in memory.

Storage

Holding on to information for some period of time.

Decay Theory

A theory suggesting that memories fade over time due to the mere passage of time, leading to forgetting.

Forgetting

The inability to recall or retrieve information that was once stored in the memory.