Question
Assume that the quantity q produced is a function of one input factor, labor (L). Describe scale yield for each of the following product features:
Assume that the quantity q produced is a function of one input factor, labor (L). Describe scale yield for each of the following product features:
a. q=L/2.
b. q=L^2+L.
c. q=log(L).
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The Economics of Public Issues
Authors: Roger LeRoy Miller, Daniel K. Benjamin, Douglass C. North
19th edition
134018974, 134018973, 9780134020532 , 978-0134018973
