Question
Suppose a firm has a production function given by Q = L + L/K. Does this production function exhibit increasing, constant or decreasing returns to
Suppose a firm has a production function given by Q = L + L/K. Does this production function exhibit increasing, constant or decreasing returns to scale?
- Increasing
- Constant
- Decreasing
(side note- im lost as to which one)
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Microeconomics
Authors: Robert S. Pindyck, Daniel L. Rubinfeld
7th edition
8131725995, 8131725993, 978-8131725993
