Question
Show whether the following production functions exhibit increasing, constant, or decreasing returns to scale. a.Q = 2L + 3K b.Q = L + 5K +
Show whether the following production functions exhibit increasing, constant, or decreasing returns to scale.
a.Q = 2L + 3K
b.Q = L + 5K + 10
c.Q = min (2*L, K)
d.Q = 10*K*L
e.Q = L2+ K2
f.Q = K.5*L.5/2 + 10
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Principles Of Economics
Authors: Robert H. Frank, Ben Bernanke Professor, Kate Antonovics, Ori Heffetz
6th Edition
0078021855, 9780078021855
