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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What does constant returns to scale mean?
💡 Hint: Think about what happens when resources are increased equally.
Question 2
Easy
What does decreasing returns to scale indicate?
💡 Hint: Try to visualize what happens when you add one more resource.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What indicates increasing returns to scale?
- Output increases by a lesser proportion than inputs
- Output increases by a greater proportion than inputs
- Output remains the same as inputs are doubled
💡 Hint: Consider what happens when inputs grow faster than the outputs.
Question 2
True or False: Constant returns to scale leads to halved outputs when inputs are doubled.
- True
- False
💡 Hint: Reflect on the definitions of returns to scale.
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A company doubles the number of machines and workers, with outputs escalating to 150% of the previous yield. Determine the type of returns it is experiencing.
💡 Hint: Focus on the ratio of input increase to output growth.
Question 2
A farm increases its size and labor force, doubling them, but yield increases by only 70%. Categorize the return to scale.
💡 Hint: Analyze the impact of increased factors on final yield.
Challenge and get performance evaluation