Question: There's a Cobb-Douglas production function: q = 20*L 0,5 M 0,2 K 0,3 Please indicate what kind of return of scale have this production function?
There's a Cobb-Douglas production function: q = 20*L0,5M0,2K0,3
Please indicate what kind of return of scale have this production function?
Hint: "M" is raw material
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