=+13. Suppose that output q is a function of a single input, labor (L). Describe the returns

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=+13. Suppose that output q is a function of a single input, labor (L). Describe the returns to scale associated with each of the following production functions:

(a) q = L/2

(b) q = L2 + L

(c) q = log (L).

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Microeconomics

ISBN: 9780134184241

9th Edition

Authors: Robert Pindyck, Daniel Rubinfeld

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