Question
Determine whether each of these production functions has constant, decreasing, or increasing returns to scale: a. F(K,L) = K/L b. F(K,L) = K + L
Determine whether each of these production functions has constant, decreasing, or increasing returns to scale:
a. F(K,L) = K/L
b. F(K,L) = K + L
Explain your process in the discussion forum.
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International Business
Authors: Michael Czinkota, Iikka A. Ronkainen, Michael H. Moffett
8th edition
470530658, 470530650, 978-0470530658
