If We Increase All of Our Inputs on the Farm

question 1

Multiple Choice

If we increase all of our inputs on the farm and we get a proportional increase in output, this is an example of which of the following:

• A)Increasing returns to scale.
• B)Constant returns to scale.
• C)Decreasing returns to scale.
• D)Normal returns to scale.
• E)none of the above.

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Definitions:

Plains Indians

Indigenous peoples who inhabited the Great Plains of North America, known for their nomadic lifestyle and dependence on buffalo hunting.

Tall-grass Prairies

Extensive grasslands characterized by tall grasses, found in the central United States, providing rich habitats for diverse species.

Prospectors

Prospectors are individuals who search for mineral deposits, particularly gold and other precious metals, often in the context of historical gold rushes.

Mining Syndicates

Groups of investors or companies joined together for the purpose of resource extraction, particularly in the mining sector, pooling resources and sharing risks and profits.