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Consider the following production functions f (L, K) - a firm with production labor L and capital K produces q = f (L, K) units.
Consider the following production functions f (L, K) - a firm with production labor L and capital K produces q = f (L, K) units. For each production function: if the firm doubles both labor and capital, does its production change? (You can answer this by plugging in some sample values for L and K). (a) f (L, K) = 20L K (b) f (L, K) = LK (c) f (L, K) = min{L, 2K} (d) f (L, K) = 8L + 7K
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