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I had two questions: Does the production function Q=2L*3K exhibit constant returns to scale? If a dollar spent on labor results in an increase in
I had two questions:
- Does the production function Q=2L*3K exhibit constant returns to scale?
- If a dollar spent on labor results in an increase in output that is less than for a dollar spent on capital, a firm can increase output by spending a dollar less on capital and a dollar more on labor. True or False?
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Global Business Today
Authors: Charles Hill
9th Edition
1259299201, 9781259299209
