Question: 1. Do the following production functions exhibit increasing, constant, or decreasing returns to scale in K and L? Assume A is a fixed positive number.

1. Do the following production functions exhibit increasing, constant, or decreasing returns to scale in K and L? Assume A is a fixed positive number. (a) Y = ? KL (b) Y = K2/3L 2/3 (c) Y = K1/3L 1/2 (d) Y = K + L (e) Y = K + K1/3L 1/3 (f) Y = K1/3L 2/3 + A (g) Y = K1/3L 2/3 ? A

1. Do the following production functions exhibit increasing, constant, or decreasing re turns to scale in K and L? Assume A is a xed positive number. (a) Y = m (b) Y = K2/3L2/3 (c) Y : K1/3L1/2 (d) Y = K + L (e) Y = K + K1/3L1/3 (f) Y = K1/3L2/3 + A (g) Y = K1/3L2/3 A

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