Assume That with 20L and 30K a Given Firm Can

question 96

Multiple Choice

Assume that with 20L and 30K a given firm can produce 100 units of output and with 40L and 60K it can produce 175 units (where L and K denote the labor and capital inputs) .Based on this information,we can conclude that:

• A)decreasing returns to scale exist.
• B)average cost is decreasing.
• C)average cost is constant.
• D)increasing returns to scale exist.

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Definitions:

Tag

A label or identifier that is assigned to data, which makes it easier to manage, search, and manipulate within software applications.

Tag-Based Addressing

Tag-based addressing uses descriptive names (tags) for addressing instead of traditional physical or memory addresses, simplifying programming and system configuration.

Memory Locations

Specific addresses in a computer's memory where data or instructions are stored, each uniquely identifiable for retrieval and storage operations.

CLX Processor

Reference to ControlLogix processors used in Allen-Bradley PLC systems, providing high-speed processing for industrial control and automation.