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If There Are Constant Returns to Scale in an Industry

question 13

True/False

If there are constant returns to scale in an industry, then in competitive equilibrium, profits in that industry must necessarily be zero.


Definitions:

Free Throw Percentage

The ratio of free throws made to the total number of free throws attempted, often used in basketball statistics.

Steals

Steals can refer to the act of taking something without permission or legal right, typically in a secretive manner.

Standard Deviation

Measures the extent of variance in a dataset relative to its mean, indicating how numbers are spread out.

Z-Score

A statistical measurement that describes a value's relationship to the mean of a group of values, measured in terms of standard deviations from the mean.

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