Question: Do the following functions exhibit increasing, constant, or decreasing returns to scale? Explain answers, please a) q = 26L + K B) (2L + 2K)

Do the following functions exhibit increasing, constant, or decreasing returns to scale?

Explain answers, please

a) q = 26L + K

B) (2L + 2K) ^0.5

C) q = 0.5L^3 K

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Q:

Do the following functions exhibit increasing, constant, or decreasing returns to scale Explain answers, please D) q = L^0.5 K^0.5 + 10 E) q = min (2K,L)

Q:

Explainthese attachments. Question 1 (total 15 points). A firm has a production function:f (K, Z) = 50LK05 + L2 K2 - 13 K3 a. What is its short-run production function if capital is fixed at K=4? b....

Q:

Answer with clear explanation. Question 1 (total 15 points). A firm has a production function:f (K, Z) = 50LK05 + L2 K2 - 13 K3 a. What is its short-run production function if capital is fixed at...

Q:

1. (21 points) Suppose a small firm employs Capital (K) and labour (L) at its !" production of output. The production function of the firm is: = 5 + 10 K + 100#.%. Assume that K=25 in the short run....

Q:

Please help me answer the following questions.,,, 3 The pension scheme of a certain company provides an annual pension on retirement (for 'age' or 'ill- health' reasons) of amount equal to one per...

Q:

Solve the following.,,, Question 1 (total 15 points). A firm has a production function: f(K, L) = 50LK0-5 + 12 K2 - 13K3 a. What is its short-run production function if capital is fixed at K=4? b....

Q:

Question 3. (15 points, 3 points for each function) Do the following functions exhibit increasing, constant, or decreasing returns to scale? Explain your answers. (Note: q is the quantity of products...

Q:

1. The menu at Joe's coffee shop consists of a variety of coffee drinks, pastries, and sandwiches. The marginal product of an additional worker can be defined as the number of customers that can be...

Q:

1. The menu at Joe's coffee shop consists of a variety of coffee drinks, pastries, and sandwiches. The marginal product of an additional worker can be defined as the number of customers that can be...

Q:

(A.) The marginal product of labor in the production of computer chips is 50 chips per hour. The marginal rate of technical substitution of hours of labor for hours of machine capital is 1/4. What is...

Q:

A trangle ABC Consists f rertex Points A C0,0) B(I,1) and c(10,1). of integral The ralve f intgal dy

Q:

An item that may be reported on Schedule A in BlockWorks is the taxpayer's __________. Depreciation. State and local income tax. Jury duty payment. Standard deduction. Which of the following options...

Q:

( a ) ( 1 0 pts ) Solve the following initial value problem for y ( t ) y ' ' + 2 y ' + 2 y = 0 , y ( 1 ) = 0 , y ' ( 1 ) = 1

Q:

The percentage of SKUs received complete on a particular order from a vendor is called theMultiple Choiceinventory.lead time.fill rate.backup stock.forecast result.

Q:

The official stamp rule: We tend to have more confidence in information that is exempt from the Freedom of Information Act than if the same information was made readily available.

Q:

4. Based on a message you have recently received, analyse it in relation to its three components: a. the information component, b. its relational component and c. its hierarchical component.

Q:

3. Give an example of a problem or phenomenon in everyday life where information is presented in an emotional way.