Question: Consider the production function f:mathbb{R}^{2}_{+}longrightarrowmathbb{R} that is defined by fleft ( L,K ight ) = left{ alpha L^{ ho}+left ( 1-alpha ight ) K^{ ho}
Consider the production function f:\mathbb{R}^{2}_{+}\longrightarrow\mathbb{R} that is defined by f\left ( L,K ight ) = \left\{ \alpha L^{ ho}+\left ( 1-\alpha ight ) K^{ ho} ight\}^{\frac{1}{ ho}} , where 0 0. Claim: This production function is a strictly concave function. Is this claim true or false
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