Question: Suppose that Q = 2LK 0.25 , where Q is output, L represents labor and K is capital. (1) Is the function homogeneous? (2) Is

Suppose that Q = 2LK 0.25 , where Q is output, L represents labor and K is capital. 

(1) Is the function homogeneous? 

(2) Is the production function increasing returns to scale? 

(3) What happens to Q if labor increases by 20% and capital is cut by 30%?

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