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Production costs are determined not only by the prices of inputs, but also by _______. a. intangibles c. competition b. technology d. consumer needs Please select the best answer from the
choices provided
{b. technology} Production costs are determined not only by the prices of inputs, but also by technology.
Expert answered|Giana|Points 890|
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Asked 9/21/2012 6:31:33 AM
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Weegy: The answer to your question is C. If she could bake 10 cakes for $16 you would expect her to bake double the amount for double the price. However, she can only bake 14 cakes for 4 extra dollars. [ You can see the definition of decreasing marginal returns (also known as diminishing returns) here: ] User: An entrepreneur knits sweaters for sale. The entrepreneur has fixed costs of $100. When he makes 10 sweaters in one month, he must ... (More)
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