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Q1. Determine what kinds of returns to scale are shown by the following production functions: (a) f(x 1 , x 2 ) = 3x 1
Q1. Determine what kinds of "returns to scale" are shown by the following production functions:
(a) f(x1, x2) = 3x1+4x2
(b) f(x1, x2) = x12 + x22
(c) f(x1, x2) = 3x1 + 4x2 + 2
(d) f(x1, x2) = (x1x2)0.5.
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