( C ) |3| Does this production technology have increasing , decreasing or constant returns to scale ?
September 3, 2020
Ecological scientists suggest the closing of a national marine park for one year for restoration purposes. It is owned by the county, which allows…
September 3, 2020

Answer the following questions about the model of the firm.(a) What is the firm’s primary motivation? Under what constraint does the firm try operate?(b) What is the secondary (or dual) problem that the firm is also solving?(c) Define decreasing-, constant-, and increasing returns to scale in terms of how average cost changes as the scale of production is increased.

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