Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If there are constant returns to scale, how is the production function written? Select one: O Y/L = A F( 1, K/L, H/L, N/L) O

image text in transcribed

image text in transcribed
If there are constant returns to scale, how is the production function written? Select one: O Y/L = A F( 1, K/L, H/L, N/L) O XY = 2XAF(L, K, H, N) O Y/L = A F(XL, XK, XH, XN) O L = AF(Y, K, H, N)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Economics and Strategy

Authors: Jeffrey M. Perloff, James A. Brander

2nd edition

134167879, 134167872, 9780134168319 , 978-0134167879

More Books

Students also viewed these Economics questions

Question

What are the differences between liberal and radical feminism?

Answered: 1 week ago