Question: Do the following functions exhibit increasing, constant, or decreasing returns to scale? What happens to the marginal product of each individual factor as that factor

Do the following functions exhibit increasing, constant, or decreasing returns to scale? What happens to the marginal product of each individual factor as that factor is increased and the other factor held constant?
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 full answer

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