Multiple Choice
A firm has the production function f(x, y) = x1.20y2.This firm has
A) constant returns to scale.
B) decreasing returns to scale and increasing marginal product for factor x.
C) increasing returns to scale and decreasing marginal product for factor x.
D) decreasing returns to scale and diminishing marginal product for factor x.
E) None of the above.
Correct Answer:

Verified
Correct Answer:
Verified
Q1: if a = 2.40, b = 0.50,
Q2: A firm has a production function f(x,
Q3: if the exponents in the production function
Q5: A firm has the production function f(x,
Q6: A firm has a production function f(x,
Q7: if the exponents in the production function
Q8: if a = 2.10, b = 1.10,
Q9: if the exponents in the production function
Q10: if the exponents in the production function
Q11: A firm uses 3 factors of production.Its