Determine whether the following production function exhibit constant increasing or decreasing returns to scale. Q=0.5+2y+40z Q=3L+10K+500 Q=4A+6B+8AB

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Determine whether the following production function exhibit constant increasing or decreasing returns to scale.

Q=0.5+2y+40z

Q=3L+10K+500

Q=4A+6B+8AB

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Managerial Economics

ISBN: 978-0324588866

12th edition

Authors: Mark Hirschey

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Posted Date: Feb 06, 2022 01:06 PM

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Determine whether the following production function exhibit constant increasing or decreasing returns to scale. Q=0.5+2y+40z Q=3L+10K+500 Q=4A+6B+8AB

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Solution A Q 05X 2Y 40Z Initially let X Q 05100 2100 40100 4250 Increasing all inputs by an arbitrar... View the full answer

Managerial Economics

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