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For each of the following production functions, indicate whether the production function exhibits increasing, decreasing, or constant returns to scale. Q = L 0.6 K

For each of the following production functions, indicate whether the production function exhibits increasing, decreasing, or constant returns to scale.

Q = L0.6K0.4

Answer 1Choose...increasing returns to scale

constant returns to scale

decreasing returns to scale

Q = 10 + 5L + 5K

Answer 2Choose...increasing returns to scale

constant returns to scale

decreasing returns to scale

Q = 5L + 5K + 5LK

Answer 3Choose...increasing returns to scale

constant returns to scale

decreasing returns to scale

Q = L0.4K0.7

Answer 4Choose...increasing returns to scale

constant returns to scale

decreasing returns to scale

Q = L0.3K0.3N0.3

Answer 5Choose...increasing returns to scale

constant returns to scale

decreasing returns to scale

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