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Returns to scale in production: Do the following production functions exhibit increasing, constant, or decreasing returns to scale in K and L? (Assume A is
Returns to scale in production: Do the following production functions exhibit increasing, constant, or decreasing returns to scale in K and L? (Assume A is some fixed positive number.) (a) Y = K1/2L1/2 (b) Y - K2/312/3 (c) Y = K1/3L1/2 (d) Y = K +L (e) Y = K + K1/31 1/3 (f) Y = K1/3213 + A
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