The Expansion Path for a Constant-Returns-To-Scale Production Function

question 34

Multiple Choice

The expansion path for a constant-returns-to-scale production function

• A)is a straight line through the origin with a slope greater than 1 if w > v.
• B)is a straight line through the origin with a slope greater than 1 if w < v.
• C)is a straight line through the origin,though its slope cannot be determined by w and v alone.
• D)has a positive slope but is not necessarily a straight line.

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Definitions:

Cross Tabulation

A method of presenting and analyzing data involving two or more variables to discover relationships in the data. Also known as cross tab.

Environmental Scan

The process of systematically analyzing external opportunities and threats that could affect the organization's success.

Predictive Information Extraction

The use of algorithms and models to analyze historical data in order to make predictions about future trends, behaviors, or outcomes.

Absolute Value

Absolute value refers to the non-negative value of a number without regard to its sign; it's the distance of a number from zero on a number line.