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For Each of the Following Production Functions, Determine Whether They

Question 142

Essay

For each of the following production functions, determine whether they exhibit constant, decreasing, or increasing returns to scale.
a. Q = 4KL
b. Q = K1/3L2/3
c. Q = K1/3L1/3
d. Q = min(K, 4L)
e. Q = 6K + 3L

Correct Answer:

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