True/False
If the production function is f(x, y)= min{2x + y, x + 2y}, then there are constant returns to scale.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q1: A firm's production function is f(x<sub>1</sub>, x<sub>2</sub>)=
Q2: A firm has the production function f(x<sub>1</sub>,
Q3: A firm has a production function f(x,
Q4: It is possible to have decreasing marginal
Q6: Which of the following production functions exhibit
Q7: The UJava espresso stand needs two inputs,
Q8: A firm uses 3 factors to produce
Q9: A firm has two variable factors and
Q10: If there is one input used in
Q11: A firm has the production function f(x<sub>1</sub>,