6.20. What can you say about the returns to scale of the Leontief production function Q !...

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6.20. What can you say about the returns to scale of the Leontief production function Q ! min(aK, bL), where a and b are positive constants?

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Microeconomics

ISBN: 9780470563588

4th Edition

Authors: David Besanko, Ronald Braeutigam

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Question Posted: Oct 15, 2024 03:01 AM

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What can you say about the returns to scale of the Leontief production function Q = min (aK, bL), where a and b are positive constants?
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6.20. What can you say about the returns to scale of the Leontief production function Q ! min(aK, bL), where a and b are positive constants?
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6.20. What can you say about the returns to scale of the Leontief production function Q !...

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Microeconomics

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