=+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:

1a2 q = L/2 1b2 q = L2 + L 1c2 q = log1L2.

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Microeconomics

ISBN: 9781292081977

8th Global Edition

Authors: Robert S. Pindyck, Daniel L. Rubinfeld

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Question Posted: Oct 25, 2024 04:01 AM

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

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Microeconomics

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