Following are different algebraic expressions of the production function. Decide whether each one has constant, increasing, or decreasing returns to scale.
a. Q = 75L0.25 K0.75
b. Q = 75A0.15 B0.40 C0.45
c. Q =75L0.60 K0.70
d. Q = 100 + 50L + 50K
e. Q = 50L + 50AT + 50 LK
f. Q = 50L2 + 50 K2
g. Based on the answers for the preceding equations, can you make any generalizations about the functional form of a production equation, the relative magnitudes of the coefficients, and the nature of the returns to scale? Explain.