Question: How shall I think about a question of production function is q=f(K,L)=K0.3 + 2KL0.3, and where the question is, if the function increasing return to
How shall I think about a question of production function is q=f(K,L)=K0.3 + 2KL0.3, and where the question is, if the function increasing return to scale, decreasing or constant return to scale?
0.3 above means that is raised to 0.3
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
