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For the following show whether the production function exhibits decreasing, constant, or increasing returns to scale. a)Y=25K+30L b)Y= K .75 L .25 c)Y= 2KL
For the following show whether the production function exhibits decreasing, constant, or increasing returns to scale.
a)Y=25K+30L
b)Y= K.75L.25
c)Y= 2KL
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Microeconomics
Authors: Douglas Bernheim, Michael Whinston
2nd edition
73375853, 978-0073375854
