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Suppose the production function for running shoes is given by Q=2sqrt{K}sqrt{L} Q =2 K L , where Q Q represents the quantity of running shoe
Suppose the production function for running shoes is given by Q=2\sqrt{K}\sqrt{L}Q=2KL, where QQ represents the quantity of running shoe pairs produced per day, KK represents daily capital input, and LL represents daily labor input.(Note: If it helps you, recall that for some variable XX, \sqrt{X}=X^{\frac{1}{2}}X=X21 ).
This production function exhibits either increasing or decreasing or constant?
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