Essay
Suppose the production function for T-shirts can be represented as q = L0.25K0.75.Show that the production function has constant returns to scale.
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When L = L1 and K = K1,q = q1.Let L2 = m ∗ L...View Answer
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Correct Answer:
Verified
When L = L1 and K = K1,q = q1.Let L2 = m ∗ L...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
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