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Show that the perfect complement production technology: Y = min {K, L} exhibits constant returns to scale. What is returns to scale for the
Show that the perfect complement production technology: Y = min {K, L} exhibits constant returns to scale. What is returns to scale for the perfect substitution production technology: Y = K + L. 1 Is Y = K + L decreasing or increasing returns to scale. Show all your work and the necessary steps.
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Microeconomics An Intuitive Approach with Calculus
Authors: Thomas Nechyba
1st edition
538453257, 978-0538453257
