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If output is described by the production function Y = AK 0.2 L 0.8, then the production function has: Select one: A. constant returns to
If output is described by the production functionY=AK0.2L0.8, then the production function has:
Select one:
A.
constant returns to scaleand the share of labor in GDP is 0.2.
B.
increasing returns to scale and the share of labor in GDP is 0.2.
C.
decreasing returns to scale and the share of labor in GDP is 0.8.
D.
constant returns to scale and the share of labor in GDP is 0.8.
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