Returns to Scale Is a Concept That Operates

question 90

Multiple Choice

Returns to scale is a concept that operates

• A) only in the short run.
• B) only in the long run.
• C) in both the long run and the short run.
• D) in either the long run or the short run but never both.

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Definitions:

Government Policy

Strategies and actions taken by the government to influence or to directly manage the economy or certain sectors of it.

Output

The total quantity of goods and services produced by an economic system over a specific time period.

Double Scoop

A serving of ice cream consisting of two scoops, often of different flavors, placed together in a cone or cup.

Organic

Referring to food or farming methods that do not use artificial chemicals, GMOs, antibiotics, or hormones.