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pirex pirex
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6 years ago
In the apparel and textile products industry, it is estimated that the elasticity of output with respect to labor is 0.70 and the elasticity of output with respect to capital is 0.31. These two measures indicate that the primary metals industry is most closely characterized by
A) weak decreasing returns to scale.
B) nearly constant returns to scale.
C) strong increasing returns to scale.
D) no returns to scale.
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Microeconomics

Microeconomics


Edition: 6th
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LBCeaLBCea
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#1
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6 years ago
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pirex Author
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6 years ago
Good timing, thanks!
jbarnett14
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Yesterday
Just got PERFECT on my quiz
fxinternational
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2 hours ago
Thanks for your help!!
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