Do the following functions exhibit increasing, constant, or decreasing returns to scale? What happens to the marginal
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a) q = 3L + 2K
b) q = (2L + 2K) ½
c) q = 3LK2
d) q = L½ K½
e) q = 4L½ + 4K
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a This function exhibits constant returns to scale For example if L is 2 and K is 2 then q is 10 If L is 4 and K is 4 then q is 20 When the inputs are doubled output will double Each marginal product ...View the full answer
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