5. (Extra credit) Consider the production function y=[al +(1-a)Kb] where y is output, L is labor input, K is capital input, and a, b, and
5. (Extra credit) Consider the production function y=[al +(1-a)Kb] where y is output, L is labor input, K is capital input, and a, b, and c are positive numbers. Under what conditions will the production function have the property constant returns to scale? Decreasing returns to scale? Increasing returns to scale? Show your work. (4 points)
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