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28 Sep 2019
Show whether the following production functions exhibit decreasing returns to scale (DRS), constant returns to scale (CRS), or increasing returns to scale (IRS)?
a. q = 10L0.6K0.5
b. q = L + K
c. q = L0.6 + K0.5
Show whether the following production functions exhibit decreasing returns to scale (DRS), constant returns to scale (CRS), or increasing returns to scale (IRS)?
a. q = 10L0.6K0.5
b. q = L + K
c. q = L0.6 + K0.5
Kritika KrishnakumarLv10
28 Sep 2019