Question: For each item below, choose whether the listed production function exhibits constant returns to scale (CRS), increasing returns to scale (IRS) or decreasing returns to

For each item below, choose whether the listed production function exhibits constant returns to scale (CRS), increasing returns to scale (IRS) or decreasing returns to scale (DRS): A) q=min{3L,20K} B) q=140L+2K C) q=L0.2K : D) q=L0.2K0.5 E) q=L0.2K0.8 F) q=L2+K2 G) q=LK+10 H) q=L0.4K0.410 when q returns positive values, zero otherwise
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
