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15 Aug 2018
For each of the following production functions, determine whether it exhibits increasing, constant or decreasing returns to scale:
a) Q = K + 4L
b) Q = L + L/K
c) Q = Min(K,L)
d) Q = L*K
For each of the following production functions, determine whether it exhibits increasing, constant or decreasing returns to scale:
a) Q = K + 4L
b) Q = L + L/K
c) Q = Min(K,L)
d) Q = L*K
Sixta KovacekLv2
17 Aug 2018
