Question: Determine whether the production function has increasing returns to scale, decreasing returns to scale, constant returns to scale or none of those. Explain briefly. (Sample

Determine whether the production function has increasing returns to scale, decreasing returns to scale, constant returns to scale or none of those. Explain briefly. (Sample explanation: F (cK, cL) = cF (K, L) so constant returns to scale.)

a) F(K,L)=min{K^2, 6L}

b) F(K,L)=min{K^2, L^1/2}

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