Question: Show that Euler's theorem implies that, for a constant returns - to - scale production function q = f ( k , l ) ,
Show that Euler's theorem implies that, for a constant returnstoscale production function
Use this result to show that, for such a production function, if then must be negative. What does this imply about where production must take place? Can a firm ever produce at a point where is increasing?
Please explain it from very basic
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