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For the production function, q = L + K Which one is true? a. Displays increasing returns to scale b. Displays constant returns to scale
For the production function, q = L + K Which one is true? a. Displays increasing returns to scale b. Displays constant returns to scale c. Displays decreasing returns to scale d. It is not possible to tell Which of the following is NOT a necessary property of indifference maps? a. Indifference curves cannot be straight lines. b. There is an indifference curve through every possible bundle. c. Indifference curves slope downward only. d. Bundles on indifference curves farther from the origin are preferred to those on indifference curves closer to the origin
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