What kind of returns to scale does this production function exhibit? f(21, Z2) = [min(21. 3z2)17 O a. Increasing returns to scale O b. Constant
What kind of returns to scale does this production function exhibit? f(21, Z2) = [min(21. 3z2)17 O a. Increasing returns to scale O b. Constant returns to scale O c. Decreasing returns to scale O d. Cannot be determined from the given information What kind of returns to scale does this production function exhibit? f(21, Z2) = 21(Z2 - 8) for z, > 0 and z2 > 8. O a. Increasing returns to scale O b. Constant returns to scale O c. Decreasing returns to scale O d. Cannot be determined from the given information For each of the below production functions, find the minimum cost of producing 2 units of output when input prices are wi = 2 and W2 = 5. Wherever rounding is needed, please round to 3 decimal points. a) (2 points) f(21, Z2) = [min ( 21, 322]]? b) (2 points) f(Z1 , Z2) = 21(22 - 8)
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