Use the Following Table to Answer the Questions

question 111

Multiple Choice

Use the following table to answer the questions :
Table 7-4 shows the shows the quantities of labor and capital required to produce various levels of output.

-Refer to Table 7-4.When the firm increases production from 48 units of capital and 16 units of labor to 96 units of capital and 32 units of labor,the production function exhibits:

• A)increasing returns to scale.
• B)constant returns to scale.
• C)diminishing marginal returns.
• D)decreasing returns to scale.

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Definitions:

Wat Chai Wattanaram

A historic Buddhist temple located in Ayutthaya, Thailand, known for its distinctive Khmer architecture and as a major monument of the Ayutthaya kingdom.

Stupa Towers

Buddist commemorative monuments typically housing sacred relics and used as a place of meditation, notable for their hemispherical domes.

Thai Temple Complexes

Architectural and religious complexes in Thailand, typically Buddhist, consisting of a collection of buildings such as stupas, viharas, and ordination halls.

Transitory Change

Temporary alterations in economic or financial variables that do not have lasting effects on the overall system.