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byzantiumwasp229Lv1

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Determine whether each of the following production functions exhibits increasing, constant, or decreasing returns to scale:

a. Q=100,000+500L+100K

b. Q=0.01K³+4K²L+L²K+0.0001L³,

c. Q=50K^1/2L^1/2,

d. Q=0.001M+50,000

e. Q=15K+0.5KL+30L

f. Q=AK^â1-aL^2a, a>0.

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Joshua StredderLv10

28 Sep 2019

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