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The singlefactor production fLutction is tr 2N? labour bl is the only factor of production. {a} What would you describe the returnstoscale property of this
The singlefactor production fLutction is "tr 2N? labour bl is the only factor of production. {a} What would you describe the returnstoscale property of this production function as being: constantl increasing+ or decreasing? Justify your answer. {b} Derive the expression for the marginal product of labour, MPH . Based on thisI does this production function exhibit diminishing marginal renu'ns? Justify your answer. {c} In light of your answer to (a)+ what is the labourintensiye [i.e. perworker] form of this production function
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