Question: Please see attachment and type out the correct answer ASAP with proper explanation. 1. Which of the following production functions is an increasing, decreasing, or

Please see attachment and type out the correct answer ASAP with

Please see attachment and type out the correct answer ASAP with proper explanation.

proper explanation. 1. Which of the following production functions is an increasing,

1. Which of the following production functions is an increasing, decreasing, or constant return to scale? Please explain. 1. Y = K +L 2. Y = K5L0.7 3. Y = K2+ L0.5 Answer: No returns to scale

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2. Value-oriented information and

1. Empirical or factual information,

1. To take in the necessary information,