Question: The production function is given by: F(L,K)=2L 4K . Then, this function exhibits: Multiple Choice Constant MPL, constant MPK and increasing returns to scale Constant

The production function is given by: F(L,K)=2L 4K . Then, this function exhibits: Multiple Choice Constant MPL, constant MPK and increasing returns to scale Constant MPL, constant MPK and decreasing returns to scale Constant MPL, constant MPK and constant returns to scale Increasing MPL, increasing MPK and increasing returns to scale

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!

Kindly show your steps pletely correct. 1. A production function is given by f(K. L) - L/2+VK. Given this form. MP - 1/2 and MPk - JR. (a) Are there constant returns to scale, decreasing returns to...

tax Consider the market for apple juice. In this market, the supply curve is given by QS = 10PJ 5PA and the demand curve is given by QD = 100 15PJ + 10PT , where J denotes apple juice, A denotes...

The following production function F(L, K) - -, exhibits: a. Increasing MPL, increasing MPK and increasing returns to scale b. decreasing MPL, decreasing MPK and decreasing returns to scale c....

This is a question about microeconomics l | You manage a clothing workshop that produces dresses by workers using machines. Let q be the total dresses that your workshop makes. L is the number of...

The production function is given by: F(L,K)=LK^2 . Then, this function exhibits: Multiple Choice increasing MPL, increasing MPK and decreasing returns to scale constant MPL, increasing MPK and...

ONLY answer no explanation Consider the production function 0 = 2L 4 4K, where L is labor and K is capital. This production function exhibits? O No returns to scale 0 Constant returns to scale 0...

The production function is given by: F(L,K)=2L+4K . Then, this function exhibits: Multiple Choice Constant MPL, constant MPK and increasing returns to scale Constant MPL, constant MPK and decreasing...

QUESTION 12 Which of the following production functions exhibits a constant elasticity of substitution? O a. q = 3k + 21 Ob. g = 10.310.7 Ocg = Ink + In 12 O d. All of the above have a constant...

With regard to the Mexican crisis of December 1994, indicate the lesson that it provides (a) For developing countries relying heavily on short-term capital inflows and (b) On how to deal with a...

5. Determine the form of the function 0(u) such that the principal normal of the curve r (a cos u, a sin u, p(u)) are parallel to the XOY plane. 6. Show that the principal normals at two consecutive...

Which of the following is not a characteristic of JIT? a. Uniform workstation loads b. Close supplier bonds c. Manual production d. Standardized work methods

! Required information Problem 1 2 - 2 5 ( Static ) CVP analysis - what - if questions; breakeven LO 1 2 - 7 , 1 2 - 8 , 1 2 - 9 , 1 2 - 1 0 [ The following information applies to the questions...

What comments do you get from the outside world in the imagined future when you have achieved what you wanted?

14. Think of a positive experience in your life, once you experienced that you had great creativity, great insight or a very strong concentration around some-thing you focused strongly on achieving....

How will it feel to have achieved this? Describe this briefly to yourself.