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If a production function exhibits a diminishing marginal rate of technical substitution, then the isoquants for this production function will be Select one: O a.
If a production function exhibits a diminishing marginal rate of technical substitution, then the isoquants for this production function will be Select one: O a. convex to the origin O b. L- shaped O c. straight linesConsider the following production functions and match them to the word that describes their returns to scale. Production Function A: Q = 3L + 4K Production Function B: Q = 3L 1/2K1/2 Production Function C: Q = 4L.3K.3 Production Function D: Q = 3L + 1/2K2 Production Function C Choose... Production Function A Choose... + Production Function B Choose... Production Function D Choose...Consider the following production functions and match them to the word that describes their returns to scale. Production Function A: Q = 3L + 4K Production Function B: Q = 3L 1/2K1/2 Production Function C: Q = 4L.3K.3 Production Function D: Q = 3L + L1/2K2 Production Function C Choose... Production Function A Choose... increasing decreasing Production Function B constant Production Function D Choose
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