Question: Bridget's Brewery production function is given by ( K , L ) = 1 0 0 ( K 1 / 4 L 3 / 4
Bridget's Brewery production function is given by K LKL whereKis the number of vats she uses andLis the number of labor hours. Does this production process exhibit increasing, constant or decreasing returns to scale? Please enter either "increasing", "constant" or "decreasing" Does the input K satisfy law of diminishing marginal return? Please enter "yes" or noDoes the input L satisfy law of diminishing marginal return? Please enter "yes" or no
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