Multiple Choice
If output is produced according to Q = K1/2 + 3L1/2,then this production process exhibits:
A) increasing returns to scale.
B) decreasing returns to scale.
C) first increasing and then decreasing returns to scale.
D) constant returns to scale.
E) first decreasing and then increasing returns to scale.
Correct Answer:
Verified
Correct Answer:
Verified
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