A Firm That Doubles Its Use of Inputs to Produce

question 14

Multiple Choice

A firm that doubles its use of inputs to produce ______ output has constant returns to scale.

• A)twice as much
• B)three times as much
• C)50% more
• D)half the original

---

Definitions:

UPA

An abbreviation for Uniform Partnership Act, a set of laws adopted by states to regulate the operation of partnerships within its jurisdiction.

Partnership Liability

Partnership liability is the legal responsibility shared among partners in a partnership for debts and obligations of the partnership.

Partner's Liability

The financial obligation a partner has in a partnership, which can vary depending on the type of partnership and agreements made.

Partnership

A business structure legally established for the collaboration between two or more people in managing and profit distribution.