QUESTION 5 Farmer Jack is a watermelon farmer. If Jack plants no seeds on his farm, he gets no harvest. If he plants 1 b

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Question 5 Farmer Jack Is A Watermelon Farmer If Jack Plants No Seeds On His Farm He Gets No Harvest If He Plants 1 B 1 (203.38 KiB) Viewed 52 times

QUESTION 5 Farmer Jack is a watermelon farmer. If Jack plants no seeds on his farm, he gets no harvest. If he plants 1 bag of seeds, he gets 30 watermelons. If he plants 2 bags of seeds, he gets 50 watermelons. If he plants 3 bags of seeds he gets 60 watermelons. A bag of seeds costs $100, and the costs of seeds are his only costs. Farmer Jack's production function will a. decrease at a decreasing rate. b. decrease at an increasing rate. c. increase at a decreasing rate. Od. increase at an increasing rate. QUESTION 6 The Big Blue Sky jet company has long-run total costs of $20 million if it produces 5 jets and long-run total costs of $24 million if it produces 6 jets. The Big Blue Sky jet company is experiencing O a. economies of scale. O b. constant returns to scale. O c. diseconomies of scale. O d. negative profits.