A. decreasing returns to scale
B. Increase in marginal product
C. increasing returns to scale
D. constant retums to scale
Correct Answer:
Option C – increasing returns to scale
Explanation
Increasing returns to scale happens when the output increases in a greater proportion than the increase in input.
300 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…
200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…
200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…
200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…
200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…
200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…