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Consider the Production Function Y=4F(L,K,H,N) Y=4 F(L, K, H, N)

Question 24

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Consider the production function Y=4F(L,K,H,N) Y=4 F(L, K, H, N) . Suppose F(10,8,6,5)=100 F(10,8,6,5)=100 and F(30,24,18,15)=300 F(30,24,18,15)=300 .Does the production function have the property of constant returns to scale? Why or why not?

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Yes, the production function has the pro...

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