1. Consider the following production functions: are they constant / increasing / decreasing return to scale? (i)...

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1. Consider the following production functions: are they constant / increasing / decreasing return to scale? (i) f( x1, X2 ) = x1x2; (ii) f(x1, X2) = x1.5x25; (iii) f(x1, X2) = x1 + x2

Posted Date: Jun 11, 2024 09:14 PM

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1. Consider the following production functions: are they constant / increasing / decreasing return to scale? (i)...

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