Question: There are two parts to this question. A production function has the property that f(xL, xK) = x2f(L, K) for any positive value of x.

There are two parts to this question.

There are two parts to this question. A production function has the

A production function has the property that f(xL, xK) = x2f(L, K) for any positive value of x. What kind of retums to scale does this production function exhibit'? If the rm doubles L and K, show how the marginal product of labor and the marginal product of capital change. This production function exhibits V returns to scale. increasing decreasing constant

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