Question: Determine whether each of the production functions below displays constant, increasing, or decreasing returns to scale: a. Q = 10K0.75L0.25 b. Q = (K0.75L0.25)2 c.
Determine whether each of the production functions below displays constant, increasing, or decreasing returns to scale:
a. Q = 10K0.75L0.25
b. Q = (K0.75L0.25)2
c. Q = K0.75L0.75
d. Q = K0.25 L0.25
e. Q = K + L + KL
f. Q = 2K2 + 3L2
g. Q = KL
h. Q = min(3K, 2L)
a. Q = 10K0.75L0.25
b. Q = (K0.75L0.25)2
c. Q = K0.75L0.75
d. Q = K0.25 L0.25
e. Q = K + L + KL
f. Q = 2K2 + 3L2
g. Q = KL
h. Q = min(3K, 2L)
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a When L 1 and K 1 Q1 1 101 075 1 025 10 When we double both factors of production we g... View full answer
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