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5. Describe the returns to scale associated with each of the following production functions; a. Y= = b. Y = Log L c. Y =
5. Describe the returns to scale associated with each of the following production functions; a. Y= = b. Y = Log L c. Y = (2L + 2K) /2 d. Y = 100(10.8 [0.2) e. Use the function coefficient to show that the long-run production function, y = 10x, +1 1x, x, +19x, exhibits increasing returns to scale
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