Question: Under what conditions do the following production functions ex- hibit decreasing, constant, or increasing returns to scale? a) q= l + k b) q=l+lakb+
Under what conditions do the following production functions ex- hibit decreasing, constant, or increasing returns to scale? a) q= l + k b) q=l+lakb+ k c) q= (a 10+ [1-a] ke)b/p .
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ANSWER AND EXPLANATION Refer to image ANSWER In order to categorize the given productions functions ... View full answer
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